Directions This Assessment contains 3 questions each question has multiple parts. You may use your choice of Word or Excel, but be sure to "show your work for calculations. Completing this assessment will help you to: Course Outcomes: . Complete and evaluate inventory systems and cost flows methods. Question #1 Craig Company buys and sells one product. Its beginning inventory, purchases, and sales during calendar year 2015 follow: Date Activity Units Acquired at Cost Units Sold at Retail Unit Inventory 400 units 200 units 400 units 200 unies 500 unies 750 units 450 units Jan. Beg, inventory.... 400 units $14-5600 200 units @$15=$3.000 300 units @$16 = $4.900 200 units @30 March 10 April May 9 Rrchase.". . S11e . Rrchase 200 units $30 250 units @ $20 =5.000 300 units @35 P rchase Totals No. 28 00wuts @ $21-2100 250 unite$20,500700 units Additional tracking data for specific identification: 1) January 15 sale-200 units @$14, (2) April 1 sale-200 units $15, and (3) November 1 sale-200 units $14 and 100 units $20. Required 1. Calculate the cost of goods available for sale 2. Apply the four different methods of inventory costing (FIFO, LIFO, weighted average, and specific identification) to calculate ending inventory and cost of goods sold under each method using the perpetual system