ements D Problem 5: Calculating Cost of Goods Sold Frederick, Inc. has the following inventory records: Beginning inventory, Jan. 1 35 units @$17 per unit Purchases in January: Jan. 15 22 units $19 per unit Jan. 25 33 units @ $21 per unit Jan. 28 16 units @ $22 per unit Jan. 31 10 units @ $25 per unit Sale of 64 units in January Assume that the company uses the LIFO method (periodic inventory system that determines cost of goods sold on a monthly basis). Note: You must show all calculations to receive full credit. Using the above information, answer questions 13-15.