J K L M N O Calculate COGs, then Ending Inventory Cost Flow Assumption LIFO 1 PERIOD 1Rising prices; No beginning inventory Unit 3 Purchase Units Price AVG Total $0 $20 $35 $36 FIFO 4 Beginning 0 0 0 Lot 15$4 Lot 2 7 $S 7Lot 3 6 $6 7 $35| 7 $35| $91 / 18 3 $18| 6 $361 =$5.06 Units Units Sold Cost of Goods 18 $Purchases $91 15 $73 $76 9 Available $10 ea $5.06 $ Available For Sale Ending Inventory Units $91 *$18 $12 $15 10 Remaining Calculate Ending Inventory, then COGS Cost Flow Assumption LIFO 12 PERIOD 2 Falling prices: Beginning inventory from Period 1 13 14 Purchase Units Price 15 Beginning 3 16 Lot 4 3$10 17, 18Lot 6 6 $6 19 Lot 7 Unit Total FIFO AVG Lot 5 9$7 6 Units Remaining Units Sold @ $10 ea. Ending Inventory Cost of Goods Units $ Purchases 21 Available 23 23 $ Avail. For Sale FIFO LIFO Avg 4 * Beginning 25 +Purchases 26 Goods Available 27