Exercise 3 PLEASE ANSWER IN BOOKLET (16 points) PLEASE SHOW WORK FOR PARTIAL CREDIT FIFO and LIFO periodic inventory methods The Rock Shop shows the following data related to an item of inventory: 300 units@$5.00 900 units@$5.40 210 units@ $6.00 300 units Inventory, January 1 Purchase, January 9 Purchase,January 19 Inventory. January 31 Instructions (a) What value should be assigned to the ending inventory and the cost of goods sold using FIFO? (b) What value should be assigned to the ending inventory and the cost of goods sold using LIFO