LIFO, FIFO and Average Cost Dullsea, Inc, uses a periodic inventory system. The purchases of a particular product during the year are shown below (6 points): January 1 February 17 July 17 November 25 Beginning Inventory Purchase Purchase Purchase Total 1.000 units at $10 each 1,000 units at $10.50 each 500 units at $11 each 1,000 units at $11.25 each 3,500 units $10,000 S10.500 $5,500 $11.250 $37,250 At December 31, the ending inventory consisted of 2,000 units, i.e., they sold 1,500 units. Compute the cost of the ending inventory based on the LIFO method of inventory valuation. A) $22,350 B) $21,430 C) $20,500 D) $16,750 Compute the cost of goods sold for the current year based on the LIFO method of inventory valuation. A) $20,500 B) $16,750 C) $15,250 D) $36,025 Compute the cost of the ending inventory based on the FIFO method of inventory valuation A) $21.457 B) 515.250 C) $20,500 D) $22,000 Compute the cost of the cost of goods sold based on the FIFO method of inventory valuation A) 522,000 B) $20,500 C) 515.250 D) $29,625 Compute the cost of the ending inventory based on the Average Cost method of inventory valuation (rounded) A) $21,500 B) $21,286 C) $34,868 D) $15,964 Compute the cost of the cost of good sold based on the Average Cost method of inventory valuation (rounded). A) $15,964 B) $15,000 C) 520,000 D) $21,286