eBook Print Item Cost Allocation and Lower-of-Cost-or-Market Douglas Company's beginning inventory and purchases during the fiscal year ended December 31, 20--, were as shown. Chapter 13 Homework Units Unit Price Total Cost January 1, 20-- Beginning inventory 1,120 $ 8.00 $ 8,960 March 5 1st purchase 880 9.00 7,920 April 16 2nd purchase 390 9.50 3,705 June 3 3rd purchase 680 10.20 6,936 August 18 4th purchase 590 10.90 6,431 September 13 5th purchase 780 11.90 9,282 November 14 6th purchase 390 13.90 5,421 December 3 7th purchase 480 13.95 6,696 5,310 $ 55,351 There are 1,000 units of inventory on hand on December 31. Required: 1. Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December 31 under each of the following methods: a. FIFO b. LIFO c. Weighted average (round calculations to two decimal places) Cost of Goods Sold Cost of Ending Inventory 000 D