2. Calculate the following, and place the calculated solution on the appropriate line. In all cases, assume the companies that are the subject of the question are US corporations using US GAAP. a. Berful sells a product. It had one item in beginning inventory that cost $100,000, and purchased two more-one for $70,000, and later, one for $80,000. If two of the three items were sold this year, determine the cost of goods sold under the following cost flow assumptions. FIFO LIFO Weighted Average b. Berful buys a machine for $45,000 on the first day of the year. The machine is expected to have a life of 5 years, and to have a salvage value of $5,000. Calculate the second year's depreciation expense under the following methods. Straight-line method Double-declining balance