est net income? Units 600 1.200 10.00 11.00 NB ES-15 FIFO, LIFO, Average-Cost Inventory) Shania Twain Company was formed on December 1, 2013 The following information is available from Twain's inventory records for Product BAP. Unit Cost January 1, 2014 (beginning inventory $ 8.00 Purchases January 5, 2014 9.00 January 25, 2014 1,300 February 16, 2014 March 28, 2014 12.00 A physical inventory on March 31, 2014, shows 1.600 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2014, under each of the following inven tory methods (a) FIFO (b) LIPO to Weighted average (round unit costs to two decimal places). 800 600