QUESTION 1 Davidson Co. began the month of April with 50 units in inventory at a cost of $50 per unit. Davidson had the following inventory activity during the month: Units 60 Unit Cost $100 April 3 Sale, April 10 April 18 April 23 $125 $130 80 100 Sale, April 28 Also, assume that Davidson estimates the market price of inventory to be $70 per unit on April 30. Assume the company uses the COGS method of reducing inventory to market, when necessary Assuming Davidson uses the perpetual LIFO valuation method, ending iventory at April 30 would be: What amount should the company report as total ending inventory on the balance sheet as of April 30? What amount should the company report as total COGS on the income statement for the period ended April 30