Homework: Homework 4 (Inventory) Save ents 3 Score: 0 of 4 pts 3 of 53 cm HW Score: 25.81%, 4.9 of 19 pts E10-5 (final answer) Question Inventory transactions for Joe Tricket Stores are summarized in the table below. The company uses the Theory for The Stores anual report indicates terrence beween the UFO UFO perpen method for both financial and tax reporting costs and the current) costs of inventory is equal to SD and $15.700 at the beginning and end of the Click the icon to view the diventary transactions) your manding intory do wt the end of the one year Requirements. Dredginventory and cost of code soorten Under the UFO mod, chers tot ongiori ch Sales in Unit Total Transaction Units Units Cost Cost Beginning Inventory: January 1 Oldest cost $ 9 $ 1,600 1,750 14,400 17,500 Next oldest cost 10 3,350 $ 31,900 Total beginning inventory Purchases January 20 12 7,000 9,000 84,000 144,000 February 18 16 Subtotal 19,350 $ 259,900 17,000 Units sold on May 1 at $27 July 28 12,000 14 168,000 Total available for sale 427,900 Total units sold 31,350 (17,000) 14,350 Ending inventory a. Determine the ending inventory and cost of goods sold for the current year. b. Use the footnote information provided in the question to convert the beginning and ending inventories from a LIFO to a FIFO basis. c. Convert the cost of goods sold for the current year from the LIFO to the FIFO basis. d. Compare the inventory turnover ratio for the current year computed under the two methods of inventory valuation