Date Tyler Company has the following information related to purchases and sales of one of its inventory items. Description Units Purchased at Cost Units Sold at Retail Sept. 1 Beginning inventory 400 units @ $11 Sept. 10 Purchase 600 units @ $13 Sept. 20 Sales 710 units @ $22 Sept. 25 Purchase 700 units at $14 Assume the company uses a perpetual inventory system Required: Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods. LIFO Avg Cost Cost of 8,580 X $ 9,240 X $ 884.4 x goods sold Ending 15,120 X $ 14,460 X 17.04 x inventory FIFO Feedback Check My Work Be sure to pay attention to whether the question asks for cost of goods sold or ending inventory. Apply the following steps: Step 1. Calculate the cost of goods available for sale immediately prior to the sale transaction