The following is a record of Grouper Company's transactions for Boston Teapots for the month of May 2017 May 1 Balance 500 units $19 May 10 Sale 375 units$41 28 Purchase 500 units@$28 (a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 700 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? FIFO LIFO Ending Inventory 1. Goods purchased costirg $20,180 were shipped fab. shipping point by s supplier on December 28, shamrock received and recorded the invoice on December 29, 2015, but the goods were not induded in Shamrock's physical count of inventory because they were not received until January 4, 2017 2. Goods purchased costing $15,740 vere shipped ab destinstion by suppier on December 2 S rock received and recorded the m o oe on December J1, but the goods ere not nduded in Shamrock' ventory because they were rot rece ed unt January 2,2017, 3. Goods held on consgnment from Oaudia Kshi Company were induced in Shamrock's December 31, 2016, physical cort of nvertory at $13,700. 4. Freight-in of $2,750 was debited to advertising expense on December 23, 2016. At December 31, 2016, Shameock Corparat on reperted current asses of $380,780 and curnent lablites of $180,600. The followng tems may have ben recorded incorecty. s 2016 physical count of costDecember 23. Compute the current rato based on Shemrock's balance sheet. (Round ratio to 2 decimal places, eg. 2.31:) The current ratio