HW5 - Inventory Valuation - Periodic System - Maccie Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $4 $ 400 1/20 Purchase 500 $5.50 2,750 7/25 Purchase 300 $6.50 1,950 10/20 Purchase 300 $8 2,400 Totals 1,200 $7,500 A physical count of inventory on December 31 revealed that there were 350 units on hand. Required: (a) Assume that the company uses the FIFO method. A1 Compute the value of the ending inventory at December 31 $ A2 Compute the value of cost of goods sold on December 31 $ (b) Assume that the company uses the LIFO method. B1 Compute the value of the ending inventory at December 31 $ B2 Compute the value of cost of goods sold on December 31 $ (c) Assume that the company uses the weighted average cost method. C1 Compute the value of the ending inventory at December 31 $ C2 Compute the value of cost of goods sold on December 31 $