If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil. Required: Please use the above information to answer the following: 1. What is the total cost? 2. What is the ending inventory purchase from December? 3. What is the ending inventory units from September? 4. What is the ending inventory purchase from September? 5. What is the total ending inventory? 6. Calculate cost of goods sold for 2021 using FIFO and 110 barrels in ending inventory. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished In Excel, use the Save and Return to Assignment button in the lower right to return to Connect