Lab fall 2020 - Compatibility Mode ayout References Mailings Review View Tell me ' ' A 21 1 AaBb ADA No Spacing Heading Heading 2 HUUHE WAS Star Company uses a PERIODIC inventory system. Star had the following inventory purchases and sales during 2020: 2020 Beginning Inventory (purchased in 2019) 60 units @ $10 per unit Purchases Purchase I on 3/8/20 Purchase 2 on 8/5/20 140 units @ $14 per unit 50 units @ S16 per unit Sales: Sale 1 on 5/8/20 Sale 2 on 9/13/20 75 units @ $45 per unit 120 units @ $45 per unit of the items sold on 5/8/20, 60 units were from the beginning inventory and 15 units were from 3/8/20 purchase. The 9/13/20 sale included 70 units from the 3/8/20 purchase and 50 units from the 8/5/20 purchase. Show how Star's Balance Sheet and Income Statement would look under each of the inventory cost flow assumptions. Compute Ending Inventory, Sales, COGS, and Gross Profit ander Specific Identification, Weighted Average Cost, FIFO and LIFO. Fill in your answers on the table below. SHOW YOUR WORK. Round per unit cost to the nearest cent. Specific Identification Weighted Average FIFO LIFO 12/31/20 Balance Sheet Inventory 2020 Income Statement Sales Cost of Goods Sold Gross Profit nited States) Focus