Problem 1 - Complete the inventory Valuation Computation Schedule using the FIFO Perpetual Method, compute the LIFO amounts, and then compare the two by filing in this worksheet. See expample in Week 7 Zoom Meeting. FIFO Perpetual Method Purchased Units Inventory Units In Stock Units Sold Cost of Goods Sold Unit Cost $10 Remaining Inventory $ Balance Unit Cost Unit Costs 500 Date June 1 Balance June 4 200 $12 Balance June 6 230 Balance June 18 300 $16 Balance June 26 270 160 Balance Summarize the information in the schedule. Bal. Sheet COGS Net Income of using LIFO Diff./Effect FIFO Amount Units Total Purchased Less Total Sold Inventory In Stock Compute the LIFO ending inventory balance using the periodic method. LIFO Inventory COGS Units Price Amount Amount Inventory Debits Credits purchases amounts expensed to COGS balance in inventory