Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO 52 Units$21 $1092 Inventory. December 31, using LIFO 52 Units @ $17s $884 Unit Total Unitsll Cost:Cost Transactions in the Following Year Purchase, January s9 Purchase, January 28 64 114 94 70 22 1.408 23 2,622 Sale, 3anuary 27 (at 546 per unit) 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