Problem 2. Suppose that Patagonia Inc. uses the periodic inventory system to account for inventories and has the following information at January 31: January 1 Beginning inventory 400 units 8 Purchase $12.00 $4,800 16 Purchase 800 units @ $12.40- 600 units @$12.80- 9,920 7,680 24 Purchase 200 units @$13.20- 2,640 Total units and cost 2,000 units $25,040 January 31 Ending Inventory 600 units Show computations to determine the cost of ending inventory and cost of goods sold using a) FIFO cost assumption b) LIFO cost assumption c) Average cost assumption