Integrating Case 9-3 (Static) FIFO and lower of cost or net realizable value [LO9-1] York Co sells one product, which it purchases from various suppliers. York's trial balance at December 31, 2021, Included the following accounts: Sales (33,000 units $16) Sales discounts Purchases Purchase discounts Freight in Frecht-out $528,000 7,500 380,600 18,000 5,000 11,000 York Co.'s inventory purchases during 2021 were as follows: Beginning inventory Purchases, quarter ended March 31 Purchases, quarter ended June 30 Purchases, quarter ended September 30 Purchases, quarter ended December 31 Units 17,600 11,000 15,000 12,000 3.000 55,000 Cost per unit total cost 57.70 $ 53,900 2.50 97.500 7.90 113.500 8.25 99,000 8:20 65.600 $434,500 Additional Information Additional Information a. York's accounting policy is to report inventory in its financial statements at the lower of cost or net realizable value, applied to total inventory, Cost is determined under the first-In, first-out (FIFO) method. b. York has determined that, at December 31, 2021, the net realizable value was $8.00 per unit Required: 10. Prepare York's schedule of cost of goods sold. York includes inventory write down losses in cost of goods sold 10. Prepare York's schedule of ending inventory 2. Determine whether inventory should be reported at cost or net realizable value. Complete this question by entering your answers in the tabs below. Reg 1A Reg 13 Reg 2 Prepare York's schedule of cost of goods sold. York includes Inventory write-down losses in cost of goods sold. (Negative amount shoud be Indicated by a minus sign) YORK CO. Schedule of Cost of Goods Sold For the Year Ended December 31, 2021 Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Reg 2 Prepare York's schedule of cost of goods sold. York includes inventory write-down losses in cost of goods sold. (Negative amount shoud be indicated by a minus sign.) YORK CO. Schedule of Cost of Goods Sold For the Year Ended December 31, 2021 Beginning inventory Goods available for sale Cost of goods sold Prepare York's schedule of ending inventory. (Round "Cost per unit" to 2 decimal places.) YORK CO. Schedule of Ending Inventory For the Year Ended December 31, 2021 Inventory at cost (FIFO): Cost per Units Unit Total Cost Purchases, quarter ended, June 30 Purchases, quarter ended September 30 Purchases, quarter ended December 31 0 0 Req 1A Reg 1B Req 2 Determine whether inventory should be reported at cost or net realizable value. Inventory should be reported in the financial statements at