QUESTION 2 A company just starting business had the following transactions in February: Purchase February 1 450 units @ 9.50 Sale February 5 300 units @ 15.00 Purchase February 10 400 units @ 9.60 Purchase February 15 600 units @ 9.70 Sale February 25 950 units @ 15.00 Purchase February 28 250 units @ 9.90 $4,275 $4,500 $3,840 $5,820 $14,250 $2,475 A physical count of merchandise inventory on February 28 reveals that there are 450 units on hand. Assume that no returns occurred during the month and no discounts were given Using the periodic inventory method calculate COGS and Ending Inventory for FIFO. Ending Inventory value of $4,415 and a Cost of Goods Sold Value of $16,410 Ending Inventory value of $4,380 and a cost of Goods Sold Value of $12030 Ending Inventory value of $4,275 and a cost of Goods Sold Value of $12,135 Ending Inventory value of $4,415 and a Cost of Goods Sold Value of $11,995