For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ 9. $ Calculate ending inventory (FIFO) Calculate cost of goods sold (FIFO) 10. $ Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LIFO) inventory valuation. 11. $ Calculate ending inventory (LIFO) 12. $ Calculate cost of goods sold (LIFO) 13. $. Calculate gross profit (LIFO) Use the following to answer questions 7-17 During September, AUD Company sells 972 mountain bikes for $2,350 each. The company has the following invent purchase transactions for September: Date Transaction # of Units Unit cost Total Cost 1-Sep Beginning Inventory 150 $1,250 $187,500 7-Sep Purchase 350 $1,255 439,250 19-Sep Purchase 500 $1,257 628,500 1,000 $1,255,250