Spring 2022 BUS2101 Chapter 5 Makeup Quiz (Q8) Please handwrite your solutions and box or circle your final answers DoLotsaAccounting Company uses the periodic inventory method and had the following inventory information available: Unit Cost 1/1 Beginning Inventory 2/10 Purchase 3/17 Purchase 5/29 Purchase 7/25 Purchase 10/8 Purchase 12/15 Purchase Units 800 $13.75 350 $14.45 750 $14.50 555 $14.60 450 $14.65 600 $14.80 800 $15,55 A physical count of inventory on December 31 revealed that there were 2,077 units on hand. Answer the following questions. Show your work like a solution manual! Box or Circle your final answers. 1) What is the value of cost of goods sold & ending inventory under FIFO? 2) What is the value of cost of goods sold & ending inventory under LIFO? 3) What is the value of cost of goods sold & ending inventory under Average Cost (round out at least 2 decimal places for your average cost)? 4) What is the value of cost of goods sold & ending inventory under FIFO if 2.222 units were sold instead? 5) What is the value of cost of goods sold & ending inventory under LIFO if 2.222 units were sold instead? 6) What is the value of cost of goods sold & ending inventory under Average Cost if 2.222 units were sold instead (round out at least 2 decimal places for your average cost)?