II. Problem Solving: 1. Information on Entity's A's inventory of Product A is as follows: Balance at Jan. 1 Purchases: Jan. 6 Jan. 26 Sales: Jan. 7 Jan 31 Units Unit Cost Total Cost 3,000 P19.55 P58,650.00 10,200 21.50 219,300.00 2.250 20.50 46,350.00 2,700 7.200 How much are the ending inventory and cost of sales under the FIFO cost formula? (5pts)