Question 1: The following items were purchased by Virgin Megastore during the month of June: On June 1 the business had inventory of printers at a cost of$120 each. On June 30 the business had 18 printers as ending inventory You are expected to do the following: 1. Calculate the cost of ending Inventory using LIFO and FIFO methods 2 Calculate the costs of merchandise sold using each of those two methods. Date Description Unit Cost Total June 1 Beginning Inventory 6 $120.00 June 5 Purchase $125.00 June 8 Purchase 10 $126.00 June 15 Purchase 15 $128.00 June 20 Purchase 9 $126.00 Jun 25 Purchase 10 $126.00 Jun 27 Purchase 7 $128.00 Total Total LIFO FIFO LIFO Ending Inventory Cost of Merchandise Sold Date Unik Cost Total Total Total Cost of ending inventory Cost of merchandise sold FIFO Method Date Unit Cost Total Total Total Cost of ending Inventory Cost of merchandise sold