Can someone help me understand how I would go about answering the posted question using FIFO (First in, First Out?

- C www-awn.aleks.com/alekscgi/x/Isl.exe/10_u-IgNslkr7j8P3jH-Ux7HFZvJt13SNKH4G82ZlyJSnKXsPhEgosrLJSKe5N8Wtw-pEO_rcyMEqwtZAOTwh4CQb9DiQ-ku9K... O MERCHANDISING AND INVENTORY Use of periodic inventory system for merchandise inventory cal... Ramire: pany had the following inventory information for the year ending December 31: Units Unit Cost Total Beginning Inventory 30 $12 $360 Purchases: March 3 55 9 495 June 15 60 8 480 September 28 35 3 105 Cost of Goods Available for Sale 180 $1,440 On December 31, Ramirez Company had an ending inventory of 40 units. They use a periodic inventory system to compute the cost of ending inventory. Required: Using FIFO: (a) Compute the cost of ending inventory (b) Compute the cost of goods sold Cost of ending inventory: $0 Cost of goods sold: $0