Question 10 20 pt The management of Party Palace is trying to decide which inventory method to use to account for Valentine's Day Kits. The managers are considering use of LIFO (Last-In First-Out) or FIFO (First-In First-Out). The following inventory transactions occurred in order during October: Beginning Inventory on February 1 was 1,000 Valentine's Day kits valued at $25 each Purchased 3,000 Valentine's Day kits at $26 each Sold 3,200 Valentine's Day kits at a sales price of $60 Purchased 2,000 Valentine's Day kits at $27 each Sold 2,400 Valentine's Day kits at a sales price of $60 A. What is the total collar value of Ending Inventory for February under the FIFO method? (6 points) B. What is the total dollar value of Cost of Goods Sold for February under the FIFO method? (4 points) C. What is the total dollar value of Ending Inventory for February under the LIFO method? (6 points) D. What is the total dollar value of Cost of Goods Sold for February under the LIFO method? (4 points) Upload choose a File