The below schedule relates to Eddie's Surf Shop's inventory purchases during the year. Number of Units Cost per Unit $7 Beginning Inventory (75,000 units) 45,000 (purchased November of last year) 30,000 (purchased December of last year) $6 Purchases: March 27,000 $4 June 18,000 $3 October 30,000 $2 Eddie's Surf Shop sold 120,000 units this year. Part A (20 points). Calculate COGS and Ending Inventory under LIFO and FIFO. Show your calculations (i.e., show me each piece of what is involved in reaching your total number for COGS and Ending Inventory for each). Clearly indicate which part of your answer pertains to LIFO and which part of your answer pertains to FIFO. Part B (10 pts): For Part B, assume the company is using the LIFO method. Further, assume the manager wants higher net income in order to meet analysts' earnings targets. She has the opportunity to make a last minute purchase of 115,000 units at $1 per unit. Should she complete the purchase, and if so, how much more net income would she achieve? To avoid carry-through errors, please assume your answer to COGS under LIFO above is $500,000. Your answer to Part B should be based on the effect of making the purchase on Net Income, so (1) first, please calculate the COGS amount that would occur due to making this purchase (as above, showing each piece of the calculation) and (2) second, compare this COGS amount to the assumed COGS of $500,000 to indicate the numerical effect on Net Income and whether this change would be beneficial to achieving the manager's objective