Problem IV-Inventory methods. Flynt Company was formed on December 1, 2016. The following information is available from Flynt's inventory record for Product X. January 1, 2017 (beginning inventory) Purchases: January 5, 2017 January 25, 2017 February 16, 2017 March 15, 2017 A physical inventory on March 31, 2017, shows 2,500 units on hand. Units Unit Cost 1,600 $18.00 2,600 $20.00 2,400 $21.00 1,000 $22.00 1,800 $23.00 Instructions: Prepare schedules to compute the merchandise ending inventory at March 31, 2017 and the Cost of Goods Sold for the quarter ended on March 31, 2027, under each of the following inventory methods: (a) FIFO (b) Problem IV Solution FIFO LIFO Date LIFO (c) Weighted-average. Description Cost of Merchandise (Goods) Sold Total Cost of Merchandise (Goods) Sold Merchandise Inventory Jan, 1, 2017 Beginning Inventory Mar 31, 2017 Ending Inventory Total Merchandise Inventory Total Merchandise Available Date Show supporting computations in good form. Unit Unit Cost Amount Description Unit Unit Cost Amount Cost of Merchandise (Goods) Sold Total Cost of Merchandise (Goods) Sold Inventory Total Merchandise Inventory Total Merchandise Available Weighted Average Cost per unit Computation Description Cost of Merchandise (Goods) Sold Merchandise Inventory Total Merchandise Available Units Units Cost Amount