Alternative Inventory Methods Frate Company was formed on December 1, 2018, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Unit Cost January 1, 2019 (beginning inventory) Units 1,800 $10.00 Purchases: January 6, 2019 January 25, 2019 February 17, 2019 March 27, 2019 2,500 11.00 2,200 11.50 1,600 12.00 1,900 12.50 A physical inventory on March 31, 2019, shows 3,600 units on hand. Required: Prepare schedules to compute the ending inventory at March 31, 2019, under each of the following inventory methods. 1. FIFO FRATE COMPANY Computation of Inventory Under FIFO Inventory Method March 27, 2019 March 31, 2019 Units Unit cost Total cost February 17, 2019 January 25, 2019 (portion) March 31, 2019 inventory 2. LIFO FRATE COMPANY Computation of Inventory Under LIFO Inventory Beginning inventory Method March 31, 2019 January 6, 2019 (portion) March 31, 2019 inventory Units Unit cost Total cost