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Baoic Projectors began the month otAugust with six movie projectors in inventory, each unit costing $385 During August, seven additional projectors of the same model were purchased 0 (Click the icon to view the additional information.) Assume Babic uses a periodic recordkeeping system and the LIFO cost ow method. 1. Calculate the cost of goods sold that will appear on the income statement for the month otAugust 2. Determine the cost of inventory that Will appear on the balance sheet at the end ofAugust. 3. Calculate the cost of goods sold that will appear on the income statement for the month of August, (Enter Us for any layers where there were no units sold) Units x Cost per Unit : Total Cost Units from beginning inventory I I x I I = I I Units from August 11 purchase I I X I I I I I Units from August 14 purchase I I X I I I I I Units from August 26 purchase I I x I I I I I Cost of Goods Sold LIFO method ;I H. More Info X August 11 Purchased four units at $370 each August 13 Sold four units at $470 each August 14 Purchased two units at $380 August 18 Sold five units at $470 each August 21 Sold two units at $470 each August 26 Purchased one unit at $365 Print Done