5.Assume The beginning inventory as of January I consisted of 500 units that were purchased for $8.25 each: During the month, three new purchases were made. e first purchase consisted of 700 units costing $8.50 each The second purchase had 800 units costing $9.00 each; The third purchase had 600 units costing $9.50 each; At the end of the month, ending inventory shows 700 units. Compute the cost of goods sold and the ending inventory for the company using each of the following me thods First-in, first-out (FIFO) Last-in, first-out (LIFO) Specific identification: Of the units sold, 300 were from the beginning inventory, 600 from the first purchase, 700 from the second purchase, and 300 from the third purchase. Weighted-average (round the unit price) a. b. c. d. Cost of Ending Inventory Unit a. FIFO Inventory Method Cost of Goods Sold Unit Price Date Total Units Price Total Units 20-2 Beg. inv 1st purchase 2nd purchase 3rd purchase Total Cost of goods available for sale Alternative calculation if glven goods Cost of goods available for sale available for sale and CGS or E Less cost of goods sold Less cost of ending inventory Cost of goods sold Cost of ending inventory_