Alternative Inventory Methods Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply: Units Unit Cost 2,000 $12.00 January 1, 2016 (beginning inventory) Purchases: January 6, 2016 2,700 13.00 January 25, 2016 2,400 13.50 1,800 14.00 February 17, 2016 March 27, 2016 2,100 14.50 physical inventory on March 31, 2016 shows 4,000 units on hand. Required: For each method, enter your answers in chronological order. Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods: (For the weighted average method, round the average cost per unit to two decimal places.) 1. FIFO FRATE COMPANY Computation of Inventory for Product Ply Under FIFO Inventory Method March 31, 2016 Total Units Unit cost cost March 31, 2016 inventory 2. LIFO FRATE COMPANY Computation of Inventory for Product Ply Under LIFO Inventory Method heck My Work