Simple Plan Enterprises uses a periodic Inventory system. Its records showed the following: Inventory, December 31, using FIFO 64 Units @ $27 = $1,728 Inventory, December 31, using LIFO 64 Units $23 - $1,472 Transactions in the Following Year Purchase, January 9 Purchase, January 201 Units 76 Unit Cost 28 126 29 Total Cost $2,128 3,654 Sale, January 11 (at $51 per unit) 106 Sale, January 27 (at $52 per unit) 82 Required: 1. Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO. 2. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. 3. Does the inventory method used make a significant difference in the inventory turnover ratio? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO. Number of Goods Available for Sale (Units) Cost of Goods Available for Sale Cost of Ending Inventory Cost of Goods Sold FIFO LIFO Required 1 Required 2 >