Exercise 6-63 (Algorithmic) Inventory Costing Methods: Periodic Inventory System (Appendices 68) The inventory accounting records for Roth Corporation contained the following data: Beginning inventory 400 units at $8 each Purchase 1, Feb. 26 2,300 units at $14 each Sale 1, March 9 2,500 units at $27 each Purchase 2, June 14 2,200 units at $15 each Sale 2, Sept. 22 2,100 units at $29 each Required: Calculate the cost of ending Inventory and the cost of goods sold using the FIFO, LIFO, and average cost methods. (Note: Use four decimal places for per unit calculations and round all other numbers to the nearest dollar) FIFO LIFO Average cost Cost of ending Inventory 4,500 3,100 x 4,188 Cost of goods sold 63,900 63,200 X $ 64,216 X Feedback CheckMy Work For cost of ending inventory and the cost of goods sold using the FIFO method, apply the following stape: Step 1: Calculate the cost of goods avalatie for sale for the period Step 2. Apply the Inventory costing method recognizing that under FIFO, the earliest purchases (first in) are assumed to be the first sold (the first out) and the more recent purchases are in ending inventory For cost of ending inventory and the cost of goods sold using the LIFO method, apply the following steps: Step 1: Calculate the cost of goods available for sale for the period