HW6#12a-Cost Flows Inventory Methods using a periodic inventory system: Instructions: Using the data below and worksheet on following slide. a. Determine the Cost of Goods Available for Sale for reams of paper for Office Outlet Inc. b. Determine the Ending Inventory and Cost of Goods Sold under each of the assumed cost flow methods-FIFO, LIFO, and Average Cost. Sold 1,500 units and Inventory information Date Total Cost Units 1-Jan 20-Feb 5-May| 12-Aug 8-Decl Unit Cost 100 600 500 400 100 $8.00 $9.00 $10.00 $11.00 $12.00 HW6#12b-worksheet (round average cost factor to 3 decimal places). FIFO LIFO AVERAGE COST worksheet Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale (Ending Inventory) Cost of Goods Sold