Topic 3/Inventory and Cost of Goods Sold Task 3.1: B Groen shows the beginning inventory of a particular product, and the purchases during the current year, as follows: Jan. Mar. 1 8 Aug. 11 Oct. 23 Total available for Sale At December 31, ", the ending inventory of this product consisted of 55 units. Instruction: (show your calculations and round to 2 decimal places) Beginning Inventory Purchase Purchase 45 35 90 units $105 = $1,725 units $115 = $1,025 units $125 $11,250 Purchase 30 anies $135 - $4,050 200 units $24,050 Determine the cost of the year-End Inventory and the Cost of Goods Sold for this product under each of the following Methods of Inventory Valuation: Average Cost First in. First-out Inventory at Dec. 31st Last-in. First-out Task 3.2.: IB Green wants to achieve a high profit end of the year, which method should they choose? Explain fully your answer. Cost of Goods Sold