Widers om to the following data for inventory, paldies, and sales of merchandise for December Purchase price Sale Price Activity Units (per unit) (per unit) Beginning witory 10 $8.00 Purch 22 3.00 Purchase 26 9.05 Sale 19 $20.00 Sale Dec. 10 25 20.00 Purchase 3 Dec 12 -12 9.30 Sale 3, Dec 14 20 20.00 Anderson's uses a perpetual inventory system. All purchases and sales were for cash Required: 1. Compute cost of goods sold and the cost of ending inventory using FIFO. If required, round your answers to the nearest cent Cast of goods sold Cost of ending inventory 2. Coroute cost of goods sold and the cost of ending inventory using LFO. It required, round your answers to the nearest cent Cost of goods sold Cost of ending inventory 3. Compute cost of goods sold and the cost of ending inventory using the average cost method. (Note: Use four decimal places for per un calculation) Round your worst the Cast of goods sold 3. Compute cost of goods sold and the cost of ending inventory using the average cost method. (Note: Ose four decimal pace for person Cost of goods sold Cost of ending inventory 4. Prepare the journal entries to record these transactions in Anderson chooses to use the ro method if required, round you to the Dec 2 (Purchased enitory) Dec. 5 (Purchased inventory) Dec. 7 (Recorded cash sales to customers) Dec. 7 (Recorded cost of goods sold) Dec. 10 (Recorded cash sales to customers) Dec. 10 (Recorded cost of goods sold) Dec. 12 (Purchased inventory) Dec. 14 (Recorded cash sales to customers) Dec. 14 (Recorded cost of goods sold) 5. Conceptual Connection: Which method would result in the lowest amount paid for taxes