Topanga Group began operations early in 2018. Inventory purchase information for the quarter ended March 31, 2018, for Topanga's only product is provided below. The unit costs include the cost of freight. The company uses a periodic inventory system. Date of Purchase Units Unit c Jan. 7 Feb. 16 March 22 9,000 25,000 29,000 63,000 $4.00 5.00 6.00 Cost Total Cost 36,000 125,000 174,000 Totals 335,000 Sales for the quarter, all at $9 per unit, totaled 36,000 units leaving 27,000 units on hand at the end of the quarter Required 1. Calculate Topanga's cost of goods sold for the first quarter using: a. FIFO b. LIFO c. Average cost 2. Calculate Toponga's gross profit ratio for the first quarter using FIFO, LIFO, and Average cost 3. Comment on the relative effect of each of the three inventory methods on the gross profit ratio. Complete this question by entering your answers in the tabs below Req 1A Req 18 Req 1C Req 2 Req 3 Calculate Topanga's cost of goods sold for the first quarter using FIFO. Cost of Goods Available for Sale Cost of Goods Sold -Periodic FIFO Ending Inventory-Periodic FIFO FIFO: Cost of Goods | # of units | Cost per | Goods # of units # of units | Cost per| Cost of per Available for Sale unit unit G Goods Sold in ending Cost per Ending inventory Inventory Purchases: January 7 February 16 March 22 Total Req 18>