Calculating CoGS - period A company sells inventory items of one type only. In January, the following transactions occurred: Jan 1: On hand 12 units at $40 each (beginning inventory) Jan 5: Bought 34 units at $50 each Jan 11: Bought 22 units at $55 each Jan 15: Sold 27 units at $90 each Jan 21: Sold 21 units at $95 each Jan 27: Bought 17 units at $45 each Use the first in first out method to calculate the values for the template below, using a periodic approach, i.e. calculate the values for the whole month at once, and not after each transaction. Use the following templates to guide your calculations. Tip: First keep track of the units, then calculate the dollar values! a) First in, first out (FIFO), periodic units value Beginning inventory + Purchases = Cost of goods available for sale - Costs of goods sold (COGS) = Ending inventory Sales - Costs of goods sold (COGS) Gross profit