Clarke Company uses the periodic inventroy method and had the following inventory information available: 1/1 Beginning Inventory 1/20 Purchase 7/25 Purchase 10/20 Purchase Units Unit Cost Total Cost $ 100 4 400 400 5 2,000 200 7 1,400 300 8 2.400 1,000 6.200 3. A physical count of inventroy on December 31 revealed that there were 350 units on hand. Required: Answer the following independent questions and show computations supporting your answers. 1. Assume that the company uses the FIFO method what is the value of Cost of Goods Sold and the ending Inventory at December 31 (3% Marks) 2. Assume that the company uses the Average-Cost method, what is the value of Cost of Goods Sold and the (3 Marks) ending on December 31". Assume that the company uses the LIFO method what is the value of Cost of Goods Sold and the ending inventory on December 31. (3% Marks)