Required information [The following information applies to the questions displayed below.] Maynard Company started the year with no inventory. During the year, it purchased two identical inventory items at different times. The first unit cost $1,650 and the second, $1,750. One of the items was sold during the year. Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory, assuming use of each of the following methods: a) FIFO FIFO Cost of Goods Sold Ending Inventory Required information [The following information applies to the questions displayed below.] Maynard Company started the year with no inventory. During the year, it purchased two identical inventory items at different times. The first unit cost $1,650 and the second, $1,750. One of the items was sold during the year. Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory, assuming use of each of the following methods: b) LIFO LIFO Cost of Goods Sold Ending Inventory