January 1, (beginning inventory) Purchases during the year January 5, 2020 January 25, 2020 February 16, 2020 March 26, 2020 COGS, END INV EXAMPLE Units Unit Cost 600 $8 1,200 $9 1,300 $10 2000 800 $11 900 600 $12 Physical inventory on March 31 shows 1,600 units on hand. The company had two major sales. On January 30, it sold 2,000 units and on March 1 it sold 900 units. Calculate Cost of Goods Sold and ending inventory using the perpetual LIFO method. COGS == Ending inv Calculate Cost of Goods Sold and ending inventory using the periodic LIFO method. Calculate Cost of Goods Sold and ending inventory using the average method. Calculate Cost of Goods Sold and ending inventory using the FIFO method. Calculate Gross Profit for each assumption