E8.12 (LO 3) (FIFO, LIFO, Average-Cost Inventory) Shania Twain Company was formed on December 1, 2019. The following information is available from Twain's inventory records for Product BAP. 8-40 CHAPTER 8 Valuation of Inventories: A Cost-Basis Approach Units Unit Cost 600 $ 8.00 January 1, 2020 (beginning inventory) Purchases: January 5, 2020 January 25, 2020 February 16, 2020 March 26, 2020 1,200 1,300 800 600 9.00 10.00 11.00 12.00 A physical inventory on March 31, 2020, shows 1,600 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2020, under each of the following in- ventory methods. a. FIFO b. LIFO. c. Weighted average (round unit costs to two decimal places)