Bloomington Company has the following information related to its inventory account during during 2019. @ @ Beginning Inventory, 01/01/199,000 units Purchased in March 4,000 units Purchased in July 6,000 units Purchased in October 5,000 units Total 24,000 units $82 $78 $80 $75 11 11 11 11 738,000 312,000 480,000 375,000 $ 1,905,000 On December 31, 2018, a physical count showed that the firm had 12,000 units in ending inventory. Therefore, 12,000 units were sold during 2018 (i.e,. 24,000 units from above table minus the 12,000 units from the physical count). Show work and put your answer for the following questions. 1. Calculate the dollar amount for ending inventory that would be reported on the December 31, 2019 balance sheet using the LIFO (last-in, first-out) method. Answer Calculate the dollar amount for cost of goods sold that would be reported on the 2019 income statement using the LIFO (last-in, first-out) method. Answer 3. Using your answers from above, calculate the inventory turnover ratio for Knoxville Company