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Using the LIFO method, complete the steps below to calculate the ending inventory units, inventory account balance, and cost of goods sold account balance at the end of the period. Sale Price Date Activity Units Purchase Price (per unit) (per unit) 1-Feb Beginning Inventory 100 $ 45 15-Feb Purchase 700 $ 52 9-Apr Sale 1 600 S 90 29-May Purchase 500 $ 56 10-Jul Sale 2 600 S 90 10-Sep Purchase 400 $ 58 15-Oct Sale 3 400 S 90 5-Nov Purchase 900 $ 62 18-Dec Sale 4 200 $ 90 1. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 1. Must show each component of the calculation on a separate line. Refer to the Excel examples. ( 3 points total. For all calculations, you must use a formula in the cell to get full credit). Cost of Goods Sold Total COGS after Sale 1 Inventory Remaining Total Inventory Balance after Sale 1 Totals: 2. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 2. Must show each component of the calculation on a separate line. Refer to the Excel examples. ( 3 points total. For all calculations, you must use a formula in the cell to get full credit). Cost of Goods Sold Total COGS after Sale 2 Inventory Remaining Total Balance after Sale 2 Totals: 3. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 3. Must show each component of the calculation on a separate line. Refer to the Excel examples. ( 3 points total. For all calculations, you must use a formula in the cell to get full credit). Cost of Goods Sold Total COGS after Sale 3 Inventory Remaining Total Balance after Sale 3 31 32 Totals: 123 4. Compute the Cost of Goods Sold and ending inventory (units and value) after Sale 4. Must show each component of the calculation on a separate line. Refer to the Excel examples.( 3 points total. For all calculations, you 34 must use a formula in the cell to get full credit). 35 Cost of Goods Sold Total COGS after Sale 4 Inventory Remaining Total Balance after Sale 4 36 37 38 Totals: 39 40 5. Calculate the values below (3 points total. For all calculations, must use a formula in the cell to get full credit 41 Ending inventory units: 42 Ending inventory account balance: 43 Cost of Goods Sold account balance: 44 45