QUESTION 2 Acompany just starting business had the following transactions in February Purchase February 1 450 units @ 9.50 Salo February 5 300 units 15.00 Purchase February 10 400 unts9.60 Purchase February 15 600 units @ 9.70 Sale February 25 950 units 15.00 Purchase February 28 250 units 9.90 $4275 $4,500 $3840 $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 calculato COGS and Ending inventory for FIFO. fnding Inventory value of 4415 and a cost of Goods Sold Value of $11.995 Ending Inventory value of 54,380 and a cost of Goods Sold Value of $12.030 Ending Inventory value of 54415 and a cost of Goods Sold Value of 516410 Erding twentory walue of 4.275 and a cost of Goods Sold Value of 512,135