2/19/21,455 PM Extra Practice (not on the lecture quiz) During August of 2003, Bag & Bork sold 300 units of its product at $50 each. The company used the penodic inventory method. The following units were on hand or purchased during the month: Units Cost (5) 100 16.40 Beginning inventory Purchase B/2 Purchase 8/9 Total (S) 1.640 660 40 16.50 50 16.00 B30 Purchase 8/15 60 1,020 50 17.00 17.10 17.60 Purchase 8/23 Purchase B/31 855 40 704 Total 340 Less units sold ending inventory 1. Determine the cost of goods available for sale 2. Calculate the costs that should be assigned to Ending Inventory and Cont of Goods Sold under the following cost flow assumptions (round calculations to two decimal places) a) FIFO: Ending Inventory Cost of goods sold b) Average Cost: Ending Inventory Cost of goods sold c) LIFO: Ending Inventory Cost of goods sold Kuten- fierendered - haght7570 Page 1 of 3