Click here to watch the FIFO Method video and then answer the questions included below. 1. Which of the following inventory costing method is based on the assumption that the first unit of inventory available for sale is the first unit sold? a. Specific Identification b. FIFO c. LIFO d. Moving Average 2. A company purchases 50 units of inventory for $3.50 on January 5 and 35 units for $3.00 on January 25. It sells a total of 65 units on January 31. If the company is following the FIFO method of inventory costing, what is the total cost of the inventory sold? a. $220 b. $210 C. $213.85 d. $215