The following data is available for inventory purchases and sales made in the month of June. Required: Use the templates in the spreadsheet to calculate the Cost of Goods Available for Sale and Sales. Then calculate the Cost of Goods Sold, Ending Inventory, and Gross Profit under the inventory assumption of: 1. FIFO 2. LIFO 3. Weighted Average Assume a periodic inventory system. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. 13 Recuree 14 Une the templates in the sareadiheet to calolate the Cost of Goodr Avalable for Sale and Sales. 15 16 Then calculate the Cost of Goods Sold, Inding inventenc and Gross Proft under the inventery atrumpton of 17 1. 2. LIFO 1. Weighted Average Assume a perisde inventory tytem. 5tudents: The woratchpad area is for pee to do any additional work pou need to wolve this question or can be used to thow phur work. Nathing in this area will be eraded, but it will be submitted with your assignment