Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning inventory is $96,000. 2. Purchases returns of $1,000 were made. 3. Purchases of $296,000 were made on terms of 3/10,n/30. Eighty percent of the discounts were taken. 4. At December 31 , purchases of $29,000 were in transit, FOB destination, on terms of 3/10,n/30. 5. The company made sales of $650,000. The gross selling price per unit is twice the net cost of each unit sold. 6. Sales allowances of $5,000 were made. 7. The company uses the LIFO periodic method and the gross method for purchase discounts. Required: 1. Compute the cost of the ending inventory before the physical inventory is taken. Ignore Sales allowances in your computations. $ 2. Compute the amount of the cost of goods sold that came from the purchases of the period and the amount that came from the beginning inventory