Question 1 Not yet answered Marked out of 1.00 Rag question Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Wong Corporation reports the following beginning inventory and inventory purchases. Inventory balance at beginning of year Inventory purchased during the year 400 units $12 each $4,800 700 units @ $14 each $9,800 $14,600 Cost of goods available for sale during the year 1,100 units Wong sells 600 of its inventory units during the year. Compute the cost of goods sold for the year and the inventory on the year-end balance sheet under the following inventory costing methods. COGS Ending Inventory a FIFO S $ b. LIFO $ $ c. Average Cost $ $