Exercise 5-18A (Static) Allocating product cost between cost of goods sold and ending inventory: Multiple purchases LO 5.6 Cortez Company sells chairs that are used ot computer statons. its peginging rfeenigry or chaiss wos roo uniss at $60 per unit, During the year, Cortez made two batch purchases of this chat, The first was a 150 , un pute hase a. 568 per unit, the second was a 200 -unit. purchase at $72 per unt. Dunng the periodi it soid 270 chalis. Required Determine the amount of product costs that would be allocated to cost of gopos sold andenging inentory, assuming that Cortez uses a. FIFO. b. LIFO. c. Weighted average