On December 31, NGS purchased 10 units at a total cost of $6.90 per unit. Nicole purchased 30 more units at $8.50 in February. In March, Nicole purchased 10 units at $10.50 per unit. In May, 50 units were purchased at $10.30 per unit. In June, NGS sold 50 units at a selling price of $12.50 per unit and 30 units at $10.50 per unit. CC7-1 Part 2 2. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in, first-out (FIFO) method. (Round "Cost per Unit" to 2 decimal places.) FIFO (Perpetual) Units Cost per Unit Total $ 0 Beginning Inventory Purchases February March May Net Purchases Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from February Purchase Units from March Purchase Units from May Purchase Total Cost of Goods Sold Ending Inventory On December 31, NGS purchased 10 units at a total cost of $6.90 per unit. Nicole purchased 30 more units at $8.50 in February. In March, Nicole purchased 10 units at $10.50 per unit. In May, 50 units were purchased at $10.30 per unit. In June, NGS sold 50 units at a selling price of $12.50 per unit and 30 units at $10.50 per unit. CC7-1 Part 3 3. Calculate the inventory turnover ratio, using the inventory purchased on December 31 as the beginning inventory. (Round your answers to 2 decimal places.) Inventory Turnover Ratio Numerator Denominator