The Alpenrose Milk Company reported the following transactions which affected its merchandise inventory during the month of March Inventory on hand 3,000 units; cost $8.00 each. Purchased 5,000 units for $8.40 each. March 1 March 8 March 14 Sold 4,000 units for $14.00 each. March 18 Purchased 8,000 units for $8.60 each. March 25 Sold 7,000 units for $14.00 each. Required: Determine the inventory balance Alpenrose would report on its March 31 balance sheet and the cost of goods sold it would report on its March income statement using each of the following cost flow methods First-in, first-out (FIFO)-periodic and perpetual Last-in, first-out (LIFO)-periodic and perpetual Average cost -periodic (weighted) and perpetual (moving) 1. 2. 3