The Alpenrose Milk Company uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of March. 2016: Determine the inventory balance Alpenrose would report on its March 31, 2016, balance sheet and the cost of goods sold it would report on its March, 2016, income statement using each of the following cost flow methods: First-in, first-out (FIFO) Last-in, first-out (LIFO) Average cost