ABC Appliance Shop Inc. has the following data for inventory, purchases, and sales of merchandise for December for one of the items the company sells: Activity Units Purchase Price (per unit) Sale Price (per unit) Beginning inventory 44 $80.00 Purchase 1, Dec. 4 27 91.00 Sale 1, Dec. 8 18 $150.00 13 $110.00 Sale 2, Dec. 10 Purchase 2, Dec. 17 Sale 3, Dec. 20 16 92.00 14 $140.00 ABC Appliance Shop Inc. uses a perpetual inventory system. All purchases and sales were for cash. Required: a. Compute cost of goods sold under the FIFO method. b. Cost of ending inventory using the FIFO method