Required information [The following information applies to the questions displayed below.] Martin has a bird shop that sells canaries. Martin maintains accurate records on the number of birds purchased from its suppliers and the number sold to customers. The records show the following purchases and sales during 2024. Martin uses a periodic inventory system and believes there are 51 birds remaining in ending inventory. However, Martin neglects to make a final inventory count at the end of the yeac. An employee accidentally left one of the cages open one night and 10 birds flew away, leaving only 41 birds in ending inventory. Martin is not aware of the lost canaries. Required: 1. What amount will Martin calculate for ending inventory and cost of goods sold using FIFO, assuming he erroneously believes 51 . canaries remain in ending inventory? Required informetion [The following information applies to the questions displayed below] Martin has a bird shop that sells canaries. Martin maintains accurate records on the number of birds purchased from its suppliers and the number sold to customers. The records show the following purchases and sales during 2024. Martin uses a periodic inventory system and believes there are 51 birds remaining in ending inventory. However, Martin. neglects to make a final inventory count at the end of the year. An employee accidentally left one of the cages open one. night and 10 birds few away, leaving only 41 birds in ending inventory. Martin is not aware of the lost canaries. 2. What amount would Martin calculate for ending imventory and cost of goods sold using FIFO if he knew that only 41 canaries remain in ending inventory