Linden Company uses the periodic inventory system. The following information is available for the month of May May 1 Beginning inventory 20 units @ 5 10 Purchase 10 units @ 8 15 Sales 20 units 18 Purchase 10 units @ 9 21 Sales 10 units 30 Purchase 10 units @ 10 Instructions Prepare a schedule to show cost of goods sold and the value of the ending inventory for the month of May (a). Using the FIFO assumption, calculate cost of goods sold and the value of the ending inventory for the month of March (b). Using the weighted average cost method, calculate cost of goods sold and the value of the ending inventory for the month of March (a) cost of goods sold ending inventory for the month of March (b) cost of goods sold ending inventory for the month of Marc Marck 6. Financial information is presented below for Panama company. Panama Company Sales revenue 122,000 Sales returns and allowances 12,000 Net sales (a) Cost of goods sold (b) Gross profit 24,000 Operating expenses 18,000 income from operations (c) Other income and expense (d) Net income 5,000 (a) (6) (c (d)