Chapter 5 Homework 1 Brief Exercise 5-1 (Algo) Allocating product cost between cost of goods sold and ending inventory: 7 multiple purchases. LO 5-1 points Sktkoed LoDo Designs selis smart phone cases that are custom designed by local artists. its beginning inventory of cases was 168 units at $35 per unit. During the year, Cortez made two batch purchases of these cases. The first was a 209 -unit purchase at $38 per unit; the second was a 295-unit purchase at $41 per unit. During the period, it sold 543 cases. Required: Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that LoDo Designs uses a. FIFO. b. UIFO. Cost of