Exercise 2. Date Activities Units Acquired at Cost Units Sold at Retail Dec. 01 Beginning inventory 5 units @ $3.00 = $15.00 Dec. 08 Purchase 10 units @ $4.50 - $45.00 Dec. 09 Sales 8 units @ $7.00 Dec. 19 Purchase 13 units @ $5.00 = $65.00 Dec. 24 Sales 18 units @ $8.00 Dec. 30 Purchase 8 units @ $5.30 = $42.40 36 units $167.40 26 units Required: Use FIFO and LIFO and Weighted Average Methods to calculate the below for the Inventory 1. The cost of goods sold 2. Ending balance of the Inventory at the End of the Month