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. Units 8,000 29,000 Unit Cost 5.00 6.00 7.00 Total Cost $ 40,00e 174,00e 231,000 445,000 Date of Purchase an Feb. 16 March 22 Totals 70,000 Sales for the quarter, all at $10 per unit, totaled 40,000 units leaving 30,000 units on hand at the end of the quarter uired 1. Calculate Topanga's cost of goods sold for the first quarter using a. FIFO b. LIFO c. Average cost 2. ulate Toponga's gross profit ratio for the first quarter using FIFO, LIFO, and Average cost. 3domment 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 1B 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 # of units | Cost per FIFO: |# of units | sold | # of units Cost per costof Goods Cost per Cost of Ending Available for Sale unit unit Goods Sold|in ending Inventory unit inventory 0.00S S 0.00S Beginning Inventory Purchases January 7 February 16 March 22 0.00 S 0.00 S 0.00 S 0.00 S 0.00 S 0.00