Po 1 Directions: Based on the information provided determine the cost of goods sold and 2 ending inventory using LIFO, FIFO and Weighted Average m 4 Background Information: Micky and Friends started business on Jan. 1 with no inventory. They purchased 5 two items during the year with the first item costing $2,500 and second item costing $4,000. During the year they only sold one item mnm mo- FIFO LIFO Weighted Average In