Play Now Sports started the year with an inventory balance of playsets of 1,000 that were valued at $500 each. The following transactions took place in 2022. Complete the attached table using the LIFO for inventory valuation. (5 MARKS) What is the cost of goods sold for the year? (1 MARK) What is the $ amount of purchases for the year? (1 MARK) How many units remain in inventory at the end of the year? (1 MARK) What is the value of ending inventory at the end of the year? (2 MARKS)

Date Transaction

Jan 20 Purchased 200 playsets for $525 each from supplier

March 15 Sold 400 playsets to customer for $800 each

June 30 Purchased 300 playsets for $600 each from the supplier

July 15 Sold 600 playsets to a customer for $850 each

Sep 30 Purchased 200 playsets for $500 each from the supplier