Problem 1 The records of Atlantis Company reflected the following for the mon Date Transaction Number of UnitsUnit Cost $3 2/2 2/5 2/12 2/15 2/23 2/28 Beginning inventory Purchase No.1 Sale No. 1 Purchase No. 2 Sale No. 2 Purchase No. 3 600 500 700 600 700 900 $5 $6 Ending inventory Determine the amount of ending inventory and cost of goods sold using the following methods: The ending inventory is 1200 units Cost of Goods Sold Inventory Method A. LIFO B. FIFO