Picture Paint Date and Insert object drawing time Select all Paragraph Insert Editing format. Some content might be missing or displayed improperly. IIIIIIIIIIIII: 2 3 4,1,1, 5 i 71 Problem 1 Bengals Company (the Company) has a December 31st fiscal year-end. The Company tracks inventory on a FIFO basis and reports inventory on a LIFO basis. After several years of industry growth, the economic impacts of the COVID-19 pandemic caused prices to fall industry wide. As of December 31, 2019, the Company had 360 units in inventory. The 2019 annual report contained the following inventory information: Inventory at FIFO $ 72,000 Less: LIFO Reserve $ 18,000) Inventory at LIFO $ 54,000 During 2020, the Company had the following purchases: Purchases Table Units Value/Unit Total Purchase 1 - 5/14/20 1,700 $185.00 $314,500 Purchase 2 - 7/24/20 2,100 $182.50 $383,250 Purchase 3 - 9/2/20 2,700 $181.50 $490,050 Purchase 4 - 11/20/20 400 $175.00 $ 70,000 A physical count on December 31, 2020 indicated that the Company had 1,010 units in ending inventory. Based on this information, calculate the following amounts for fiscal year 2020: FIFO Amounts Fiscal Year 2020 Sales (in units): Goods Available for Sale (units): Goods Available for Sale ($): FIFO Ending Inventory ($): FIFO Cost of Goods Sold ($): Work