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Question 3 (12 points) Chang Co. sells product A. The beginning inventory for product A was 15,000 units @ $2.10 per unit. On January 19,

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Question 3 (12 points) Chang Co. sells product A. The beginning inventory for product A was 15,000 units @ $2.10 per unit. On January 19, Chang purchased 60,000 units @ $2.40 per unit. On March 24, Chang purchased 50,000 units @ $2.50 per unit. On May 2, Chang purchased another 50,000 units @ $2.60 per unit. On August 1, Chang made its final purchase of the year of 70,000 units @ $2.80 per unit. Chang sold 225,000 units @ $3.80 each on December 20. Required: a. Determine the amount of Cost of Goods Sold using FIFO, LIFO, and Weighted Average. b. Determine the amount of Ending Inventory using FIFO, LIFO, and Weighted Average. + Paragraph B IV A

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