Q1 Pear Company's beginning inventory and purchases during the fiscal year ended December 31, 2020 were as follows: (NOTE: The company uses a periodic system of inventory) Unit Price Total Cost $29 $27 Units January 1-Beginning inventory 17 March 12-Sold 13 April 11-Purchase 45 June 20-Sold 33 Aug 16-Purchase 36 Sept 11-Sold 29 Total Cost of Inventory Ending inventory is 23 units. $24 Part 1: Calculate the following assuming Pear uses FIFO: a) What is the value of ending inventory b) What is the cost of goods sold? Part 2: Calculate the following assuming Pear uses Average Cost: a) What is the value of ending inventory b) What is the cost of goods sold? Q2 Meranda Company reports the following inventory information. What is the total value of the merchandise under LCNRV (lower of cost or net realizable value)? Show all calculations. Inventory Number APD 3838 CPZ 1212 IXL 4039 EOD 3902 DKS 4823 Inventory Quantity 325 506 817 382 626 Unit Market Unit Cost Value $56.78 $55.32 $92.31 $92.78 $77.89 $79.31 $19.38 $19.02 $33.46 $30.74