Problem 1: The Shogun Company sells retail products across the United States of America. The following is information on inventory, purchase, and sales for the current year. Assume that the company sales totaled 240 units. Units Purchase Price Beginning inventory 90 $9 Purchase #1 110 $11 Purchase #2 75 $12 Purchase #3 85 $13 1. If LIFO is used as a method for evaluating inventory, then the company's Income statement will show the cost of goods sold expense at a value of: * A) $2,885 B) $2,500 O c) $2,683.3 D) $1,140 O E) None of the above 2. The company's average cost per unit is equal to: A) $11.88 O B) $11.18 O C) $10.06 OD) $10 O E) None of the above