Practice Problem #1: Emily's Fishing Company uses a periodic inventory system and has the following transactions related to its top-selling Shimano fishing reel for the month of June 2018: Date Transactions Units Cost per Unit 300 Total Cost 4,800 Jun 1 Beg. inventory 16 Jun 7 Sale Jun 12 Purchase 290 2,900 Jun 15 Sale Jun 24 Purchase 280 2,800 Jun 27 Sale Jun 29 Purchase 270 2,700 13,200 Required: 1. Using the FIFO method, calculate ending inventory and cost of goods sold at June 30, 2018. 2. Using the LIFO method, calculate ending inventory and cost of goods sold at June 30, 2018. 3. Using the weighted-average cost method, calculate ending inventory and cost of goods sold at June 30, 2018. 4. Repeat 1 and 2 as if Emily's Fishing Compay used the perpetual method