Thames Company/s inventory records for its rotali division thow the following at August 31 : IIt (Cick the icon to view the scoourting recorde) At August 31, 11 of these units are on hand Read the requirnments Requirement 1. Compule cost of goods sold and ending imventory, using each of the following four imventory methode: Begin by entaring the number of units sold and cumber of units in ending imventory. Then colculase cost of goods sold and ending inveniory using (a) spectic identhcation, then (b) average coet, (c) FIFO, and finsly (d) LIFO. (Round the average cost per unit to the nearest cant. Rlound all final antwons to the nearest whole doltar). Data table Requirements then (b) ave 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific identification, with seven $165 units and four $175 units still on hand at the end b. Average cost c. FIFO d. LIFO 2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold