Inventory Valuation: FIFO, LIFO, and Average The company reported the following inventory data for the year: Practice 9-7 Units Cost per Unit 300 $1750 Beginning inventory Purchases: 900 1,200 400 18.00 18.25 March 23. Units remaining at year-end. . . . . . .. Compute (1) cost of goods sold and (2) ending inventory assuming (a) FIFO inventory valuation, (b)LIFOin- ventory valuation, and (c) average cost inventory valuation. The company uses a periodic inventory system Practice 9-8 Inventory Valuation: Complications with a Perpetual System Refer to Practice 9-7. Assume that the sales occurred as follows: Units Sold 100 600 1,300 July 15 November 1 Total Compute (1) cost of goods sold and (2) ending inventory assuming (a) FIFO inventory valuation, (b) LIFO inven- tory valuation, and (c) average cost inventory valuation, The company uses a perpetual inventory system