Cost of Goods Sold 3. Beginning inventory, purchases, and sales of a commodity are presented below: Inventory: July 1 15 units at $55 Sold Purchased Sold July 6 10 units at $57 July 9 30 units at $60 July 12 30 units at $58 Purchased Sold July 18 50 units at $65 July 22 40 units at $59 Assuming that the perpetual inventory system is used, determine the Total Cost of the Goods Sold and the Total Cost of the Ending Inventory using a) FIFO b) LIFO c) Weighted Average, d) Specific Identification that show cost of goods sold consists of 10 units from July 1 inventory, 25 units from July 9 inventory and 45 units from July 18 inventory. Cost of Goods Sold Unit Cost Total Inventory Unit Total Cost Quantity Cost Cost FIFO Purchases Unit Date Quantity Cost Total Cost Quantity Balances Cost