Spiegel Department Store has the following data for inventory, purchases, and sales of merchandise for December:ActivityBeginning inventoryPurchase $1,$ Dec. $2$Purchase $2,$ Dec. $5$Sale $1,$ Dec. $7$Sale $2,$ Dec. $10$Purchase $3,$ Dec. $12$Sale $3,$ Dec. $14$Units$10222619251220$Purchase Price$($per unit$)$$$8\mathrm{.}008\mathrm{.}809\mathrm{.}05$Sale Price $($per unit$)$$$20\mathrm{.}0020\mathrm{.}009\mathrm{.}8020\mathrm{.}00$Spiegel uses a periodic inventory system. All purchases and sales are for cash.Required:$1.$ Compute cost of goods sold and the cost of ending inventory using FIFO. If required, round your answers to the nearest cent.Cost of goods soldCost of ending inventory$567\mathrm{.}7058\mathrm{.}802.$ Compute cost of goods sold and the cost of ending inventory using LIFO. If required, round your answers to the nearest cent.Cost of goods sold$$578\mathrm{.}503.$ Compute cost of goods sold in the cost of ending inventory, using the average cost method. $($Note: use four decimal places for per unit calculations.$)$ round your answers to the nearest cent.Cost of goods sold $Cost of ending inventory $ $4.$ Prepare the journal entries to record these transactions assuming Spiegel chooses to use the FIFO method. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.

$3.$ Compute cost of good sold and the cost of ending inventory using the average cost method. $($Note: use four decimal places for per unit calculations.$)$ round your answers to the nearest cent.

$4.$ Prepare the journal entries to record these transactions assuming spiegel chooses to use the FIFO method. If an amount box does not require an entry and leave it blank.If required round your answers to the nearest.