Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO 38 Units @ $14 = $532 Inventory, December 31, using LIFO 38 Units @ $10 = $380 Transactions in the Following Year Units Unit Cost Total Cost Purchase, January 9 50 15 $ 750 Purchase, January 20 100 16 1,600 Sale, January 11 (at $38 per unit) 80 Sale, January 27 (at $39 per unit) 56 Required: 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. Compute the inventory turnover ratio under the FIFO and LIFO inventory costing methods. Does the inventory