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1-Dec 2 Comprehensive in Cos Problems --Inventory Concepts 9/13 A company reported the following December purchase and sales data for its only product: Date Activity Units Acquired at Cost Units Sold at Retail Unit Inventory Beginning units $ 5 5 units Inventory G 3.00 15 units 5 5 8-Dec Purchases 10 15 4.50 45 units units $ 9.Dec Sales $ 8 7 units 7.00 56 units $ $ 19 Dec Purchases 13 20 5.00 65 units 24-Dec Purchases units 5 $ 18 2 units BOO 144 units $ 24 Dec Sales $5.30 42.40 10 units $ Total 36 26 units sold Ending 167 40 Inventory units available for sale Goodsava able for sale The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using 3 Specific identification units are from December 30 purchase and 2 units are from the Dec purchase: Dec 9h sold 2 units costing $3.00 each 6 units @ $4.50 each - $33.00. Dec 24h soles 3 units costing $3.00 each + 2 units @ $4.50 + 13 units @ $5.00 each - $83.00 4. FIFO 5. LIFO 6 Weighted Average