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Inventory Pricing (Exercise) You are auditing a retail apparel company as of December 2018. The inventory for black down jackets show 1,263 jackets. When you look at the invoices for the jackets from the wholesaler from which the company purchases those jackets, you see the following: Total Inventory # 12732 12844 12905 10/22/17 12/03/18 01/28/18 Quantity 1000 800 600 Unit Price $282 $277 $275 282,000 221,600 165,000 1. Assuming the company uses LIFO as the inventory valuation method, determine the cost of inventory at December 31, 2018. 2. The company can buy the same jacket from the wholesaler at $270 in December 2018. Determine the total carrying value of inventory as of December 31, 2018. 3. Then replace the price of $270 with $277 or $ 282 in the question 2 above and see how your answer changes