they came from the March 1 purchase. Required Compute the cost of goods sold for the year ended December 31,2011, and the ending inventory under the following cost assumptions: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Average cost (weighted average) d. Specific identification P 6-18 The following data relate to inventory for the year ended December 31,2011. A physical inventory on December 31,2011, indicates that 600 units are on hand and that they came from the July 1 purchase. Required Compute the cost of goods sold for the year ended December 31, 2011, and the ending inventory under the following cost assumptions: a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Average cost (weighted average) d. Specific identification