6.R. & K. Company's beginning inventory and purchases during the fiscal year ended December 31. 20-, were as follows:There are 20 units of inventory on hand at December 31 , 20- Required: 1. Calculate the total amount to be assigned to the ending inventory under each of the following methods: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 2. Assume the market price per unit (cost to replace) of the R. &. K. Company's inventory on December 3 1, was $16. Calculate the total amount to be assigned to the ending inventory on December 31, under each of the following methods: a. FIFO lower-of-cost-or-market b. Weighted-average lower-of-cost-or-market