Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 24 units at $1,800 each June 9 Purchase 31 units at $1,950 each July 28 Purchase 13 units at $2,040 each Nov. 1 Purchase 16 units at $2,100 each There are 20 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round per unit cost to two decimal places, and use in subsequent computations. Round your final answers to the nearest dollar. Cost Inventory Method Ending Inventory Cost of Goods Sold a First-In, first-out method b. Last in, first-out method Weighted average cost method Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan 1 Inventory 50 units at $112 Mar 10 Purchase 70 units at $123 AUD 10 Purchase 10 unitat 1:10 Dec 12 Purchase 70 units at 51234 There are 80 units of the item in the physical inventory at December 31. the periodic ventory system is used Determine the ending inventory cost and the cost of goods sold by three methods in your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First intr-out (FFO) Lastin, Test-out (LO) Weighted average cost