Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31 , using FFFO 36 Units $15=$540 Inventory. December 31 , using LIFO 36 Units a $11=$396 Required: 1. Compute the number and cost of goods available for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LIFO 2. Compute the inventory turnover ratio under the FFFO and LIFO inventory costing methods. 3. Does the inventory method used make a significant difference in the inventory tumover ratio? Complete this question by entering your answers in the tabs below. Compute the number and cost of goods avaliable for sale, the cost of ending inventory, and the cost of goods sold under fifo and UFO. Simple Plan Enterprises uses a periodic inventory system. Its records showed the following Inventory, December 31 , using FIFO 36 Units @$15=$540 Inventory. December 31 , using LIFO 36 Units $11=$396 Required: 1. Compute the number and cost of goods avallable for sale, the cost of ending inventory, and the cost of goods sold under FIFO and LFO 2. Compute the inventory turnover ratio under the FFO and LEO inventory costing methods. 3. Does the inventory method used make a significant difference in the inventory turnover ratio? Complete this question by entering your answers in the tabs below. Compute the inventory turnover ratio under the fifo and LiFo inventory costing methods. (Round your answers to 2 decimaI placos.) Simple Plan Enterprises uses a periodic inventory system. Its records showed the following Inventory, December 31 , using FiFO 36 Units 9$15=$540 Inventory, December 31 , using LiFO 36 Units a$11=$396 Required: 1. Compute the number and cost of goods avallable for sale, the cost of ending inventory, and the cost of goods sold under FiFO and LIFO. 2. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods 3. Does the inventory method used make a significant difference in the inventory turnover ratio? Complete this question by entering your answers in the tabs below. Does the Inventery method used make a significant difference in the inventery turnover ratio