Box Office Projectors began the month of August with three movie projectors in inventory, each unit costing $350. During AugL model were purchased (Click the icon to view the additional information.) Assume Box Office uses a periodic record-keeping system and the LIFO cost flow method. 1. Calculate the cost of goods sold that will appear on the income statement for the month of August 2. Determine the cost of inventory that will appear on the balance sheet at the end of August. a. Calculate the cost of goods sold that will appear on the income statement for the month of August. (Enter 0's for any layers whe Units Cost per Unit Total Cost Units from beginning inventory Units from August 11 purchase Units from August 14 purchase X Units from August 26 purchase Cost of Goods Sold - LIFO method Enter any number in the edit flelds and then continue to the next question b. Determine the cost of inventory that will appear on the balance sheet at the end of August. (Enter 0's for any layers where there w Units Cost per Unit Total Cost x Units from beginning inventory Units from August 11 purchase X Units from August 14 purchase X Units from August 26 purchase Cost of Inventory -LIFO method Enter any number in the edit fields and then continue to the next question. l information ) More Info August 11 August 13 August 14 August 18 August 21 August 26 Purchased four units at $400 each Sold five units at $425 each Purchased three units at $375 Sold two units at $425 each Sold three units at $425 each Purchased one unit at $380 Done Print