Name(s) Class Time In-Class Case #7 Chapter 7 The following transactions happened for a retailer in January: Date Transaction # of Units Cost per Unit $7 $8 1/1 1/8 1/12 1/29 1/30 Beginning Inventory Purchase Sale Purchase Sale 300 450 350 750 550 $9 Required Calculate cost of goods sold and ending inventory for the following cost flow assumptions (perpetual inventory system): 1. LIFO; 2. FIFO; 3. Average Cost