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Erie Jewelers sells gold earrings. Its beginning inventory of Model 407 gold earrings consisted of 100 pairs of earrings at $50 per pair. Erie purchased two batches of Model 407 earrings during the year. The first batch purchased consisted of 150 pairs at $53 per pair: the second batch consisted of 200 pairs at $56 per pair. During the year, Erie sold 375 pairs of Model 407 earrings. Required Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie uses (a) FIFO. (b) LIFO, and (c) weighted average. Complete this question by entering your answers in the tabs below. Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie uses FIFO. Erie Jewelers sells gold earrings. Its beginning inventory of Model 407 gold eartings consisted of 100 pairs of earrings at $50 per pair. Erie purchased two batches of Model 407 eartings during the year. The first batch purchased consisted of 150 pairs at $53 per pair. the second batch consisted of 200 pairs at $56 per pair. During the year, Ene sold 375 pairs of Model 407 earrings. Required Determine the amount of product cost Enie would allocate to cost of goods sold and ending inventory assuming that Erie uses (a) FIFO, (b) LIFO, and (c) weighted average. Complete this question by entering your answers in the tabs below. Determine the amount of product cost Erie would allocate to cost of goodt pold and ending inventory assuming that Erie uses LIFO. Erie Jewelers sells gold earrings. Its beginning inventory of Model 407 gold earrings consisted of 100 pairs of earrings at $50 per pair. Erie purchased two batches of Model 407 earrings during the year. The first batch purchased consisted of 150 pairs at $53 per pair, the second batch consisted of 200 pairs at $56 per pair. During the year, Erle sold 375 pairs of Model 407 earrings. Required Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie uses (a) FIFO. (b) LIFO, and (c) weighted average Complete this question by entering your answers in the tabs below. Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie usas the weighted average method. (Do not round intermediate calcutation and roand final answers to nearest whole dollar.)