Your problem may be completed on Word, Excel, or may be handwritten. Your file will be uploaded here for grading. The problem must be submitted by the end of the test. Problem #1: Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the year. January 1 Beginning Inventory 150 items @ $4 = $ 600 May 1 Purchases 450 items @ $6 = 2,700 Total Available 600 items $3,300 Total Sales 430 items December 31 Ending Inventory 170 Cost assigned on an average cost basis $ Cost assigned on a FIFO basis $ Costs assigned on a LIFO basis $ Upload Choose a File