PART IL COMPREHENSIVE QUESTIONS: SHOW WORK FOR PARTIAL CREDIT (40 pts) Question 16. (15 points, 5 pts each) Using periodic inventory, beginning inventory and purchases are shown below: Jan. 1 Feb. 7 July 10 Nov. 25 Beginning inventory Purchase Purchase Purchase Total 1.100 units @ $7.25 1.450 units $7.50 1.600 units a $8.00 1.000 units a $8.50 5.150 $ 7,975 10.875 12.800 8.500 $ 40.150 At December 31 the ending inventory consisted of 1.500 units. 16a. Find cost of goods sold for the current year based on the LIFO method: $ 16b. Find ending inventory based on the FIFO method: $ 16c. Find cost of goods sold based on the average-cost method: $