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Please explain step by step. Beginning Inventory on July 1st, 2018 Purchase on July 4th, 2018 Sales on July 9th, 2018 Purchase on July 15th,

Please explain step by step.
Beginning Inventory on July 1st, 2018 Purchase on July 4th, 2018 Sales on July 9th, 2018 Purchase on July 15th, 2018 Sales on July 19th, 2018 300 units @ $1.00 1,000 units @ $1.10 1,250 units @ $2.00 500 units @ $1.16 450 units @ $2.00 2. Ending Inventory determined using periodic LIFO would be: a. $116 b. $110 c. $108 d. $100

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