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Problem 3 At the end of the year, Company J has on hand 12 units of Product X. The inventory at the beginning of the year and purchases during the year were as follow:: Required: Calculate both cost of goods sold and ending inventory under a) FIFO, b) LIFO, and c) weighted average inventory costing. FIFO (first in; first out) LIFO (last in, first out) Weighted Average (average cost)