Note: Answer questions (15) - (17) based on the following information: Beginning inv. O units $ 0 Purchases (in units): 6/2 10 units @ $100 6/8 10 units @ $120 Goods available: 20 units Units sold: 15 units $ 1,000 $ 1,200 $ 2,200 (see next page) 6 15) What is Cost of Goods Sold under the FIFO method of inventory? a) $1,500 C. $1,700 b) $1,600 d) $1,800 16) What is Cost of Goods Sold under the LIFO method of Inventory? a) $1,500 c) $1,700 b) $1,600 d) $1,800 I 175 What is the cost of ending Inventory under the average cost method of Inventory? a) $1,000 b) $ 600 c) $ 500 d) S 550