Periodic Round 3 (page 1) (35 minutes) Calculate ending inventory and COGS using (a) FIFO, (b) LIFO & (c ) weighted average. Units Unit Cost Total Cost 1-Jan Beginning Inventory 1,000 35 35,000 Purchases 4,000 38 152,000 Operating Expenses 91,500 Ending Inventory 900 units Sales price per unit 75 Tax Rate 30% a How many units did we sell? Which ones did we sell? How many units remain? b How many units did we sell? Which ones did we sell? How many units remain? C What is the average cost of one unit? Units Unit Cost Average Cost How many units did we sell? COGS How many units remain? Ending Inventory