Small Time, Inc. was started on January 1, 2020. During its first fiscal year, ending 12/31/2020, the following inventory transactions took place Total Cost Date January 1st August 1st October 1st Total Quantity Purchased 1200 3,000 2,500 6,700 Cost per Unit $38 $30 $42 $45,600 $90,000 $105,000 $240,600 The number of units sold during the 2020 fiscal year was 4,000. From 1/1/2021-12/31/2021, the fiscal year ending 12/31/2021, the following inventory transactions took place Cost Total Cost per Unit Date November 1st February 1st September 1st Total Quantity Purchased 2500 1,000 800 4,300 $38 $35 $27 $95,000 $35,000 $21,600 $151,600 30 Cost Total Cost Date November 1st February 1st September 1st Total Quantity Purchased 2500 1,000 800 4,300 per Unit $38 $35 $27 $95.000 $35,000 $21,600 $151,600 As of December 31" 2021, there were 3,000 units left in inventory. Required: Assuming a periodic inventory system, in your paper-based submission, please provide the following information (please show any relevant work for partial credit) 1. If the ending inventory is calculated to be $90,600 at 12/31/2020, what inventory valuation method is the company using? 2. What is dollar amount of COGS for year ended 12/31/2021? 3. What is the quantity of Goods Available for Sale for the year ended 12/31/2021