EFG Industries began operations with no beginning inventory on 10/1/2020. EFG adopted a Periodic inventory system and a FIFO cost flow assumption. The following events occurred: 10/1/2020 Purchased 100 units @ $10/unit 10/15/2020 Returned 10 units for full refund 10/30/2020 Sold 60 units @ $14/unit FOB Shipping Point (shipped same day) 11/15/2020 Purchased 200 units @ $12/unit 11/18/2020 Sold 210 units @ $15/unit FOB Destination (arrived at customer 12/15) 12/12/2020 Purchased 100 units @ $14/unit 12/18/2020 Obtained $50 discount on 12/12 purchase 12/30/2020 Sold 50 units @ $16 FOB Destination (in transit at year end) Based on this information, 1. What is the value of Ending Inventory? 2. What is the value of Cost of Goods Sold? 3. Prepare the adjusting journal enties that would be used to record Cost of Goods Sold on 12/31/2020.