Problem III Douglas Company uses the periodic Inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 200 $5 $1,000 1/20 Purchase 400 $6 2,400 7/25 Purchase 600 $7 4,200 10/20 Purchase 800 $8 6.400 2.000 $14.000 A physical count of inventory on December 31 revealed that there were 950 units on hand. Instructions Answer the following independent questions Ind show computations supporting your answers. 1. Assume that the company uses the FIFO method. a The value of the Cost of Goods Sold at December 31 is $ b. The value of the Ending Inventory at December 31 is $_ 2. Assume that the company uses the LIFO method. a. The value of the Cost of Goods Sold on December 31 is $. b. The value of the Ending Inventory at December 31 is $ U Ending Inventory at December 31 is 5 Problem IV Coltron Company uses the perpetual inventory system and the LIFO method. The following information is available for the month of June: June 1 Beginning inventory 25 units @ $8 10 Purchase 30 units @ $10 15 Sales 35 units 18 Purchase 20 units @ $15 21 Sales 25 units 30 Purchase 34 units @ $18 Instructions Prepare a schedule to show cost of goods sold and the value of the ending inventory for the month of June. LO:5