Inventory Valuation Test Application Question Using the inventory and sales data below, to complete the Yellow Shaded areas of the table and figure out the ending inventory values and the Cost of Goods Sold at March 31. Use Formulas FIFO Purchases Sales "Cost of Goods Sold Ending Date Transac tion Unit Units Units Selling Units Cost Units Value Cost Price 01-Mar Deg 100 $50 03-Mar HPurchas 60 $60 Bal. 04-Mar Sales 70 $100 Bal. Purchas 10-Mar 200 $70 Bal. 16-Mar Sales Bal. 19-Mar Sales Bal. 80 $110 80 $110 25-Mar Sales Bal. Purchas 30-Mar 40 $75 Totals State the Value of Ending Inventory. 50 $110 Units $ Value Units $ Value State the Cost of Goods Sold.