30 om Add Category BY T Insert Table Chart Text Shape Media 56 Commer Pg 1 Pg 2 Pg 3 Pg 4 Date Description Quantity 1/06/2022 Purchased 6 Items $5 per item 2/16/2022 Purchased 5 items $6 per item 7/06/2022 7/08/2022 8/15/2022 Sold Purchased Sold 6 items 4 items @ $7 per item 9/01/2022 Sold 5 items 3 items 9/20/2022 Purchased 7 items @$8 per item 10/10/2022 Sold 12/01/2022 Purchased 4 items 3 items @ $9 per item a. Calculate both the ending inventory and the COGS using the FIFO method. b. Prepare the income statement assuming the company had sales of $500 Income Stmt $ Net Income Date 2/10/2022 3/21/2022 4/06/2022 7/26/2022 8/18/2022 8/02/2022 Description Purchased Purchased Sold Purchased Sold Purchased Quantity 6 items $17 per item 10/22/2022 Sold 4 Items @ $20 per item 5 items $19 per item 5 items 6 items @ $18 per item 7 items 4 items 11/22/2022 Sold 2 items 12/22/2022 Purchased 8 items $16 a. Calculate both the ending inventory and the COGS using the LIFO method. b. Prepare the Income Statement, Rtatement of Retained Earnings and Balance Sheet assuming the company had cash sales of $100,000 MacBook Air