Fall 2020 BUS2101 Chapter 5 Homework Please handwrite your solutions and box or circle your final answers DoLotsaAccounting Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost 1/1 Beginning Inventory 350 $7.25 2/10 Purchase 800 $7.45 3/17 Purchase 750 $7.50 5/29 Purchase 555 $7.60 7/25 Purchase 450 $7.65 1018 Purchase 800 $7.80 12/15 Purchase 600 $7.90 A physical count of inventory on December 31 revealed that there were 2,077 units on hand. Answer the following questions. Show your work like a solution manuall Box or Circle your final answers 1) What in the value of cost of goods sold & ending inventory under FIFO? 2) What is the value of cost of goods sold & ending Inventory under LIFO? 3) What is the value of cost of goods sold & ending Inventory under Average Cost (round out at least 2 decimal places for your average cost)? 4) What is the value of cost of goods sold & ending inventory under FIFO ir 2.222 units were sold instead? 5) What is the value of cost of goods sold & ending Inventory under LIFO 2.222 units were sold instead? 6) What is the value of cost of goods sold & ending inventory under Average Cost if 2.222 unts were sold instead found out at least 2 decimal places for your average cost)