Receiver Cоmpаny hаd the fоllоwing inventory trаnsactions during Year 2: Beginning inventory 200 units @ $ 9 $ 1,800 Purchase April 8 250 units @ $10 2,500 Purchase September 12 375 units @ $15 5,625 TOTALS 825 units $ 9,925 Sold 700 units for $50, each, during Year 2 Required: Answer the following questions using the above information. Each box is worth 1 point (10 points total). a) What is the cost of goods sold under FIFO when the 700 units are sold? From: # Units @ Unit Cost = Total Cost @ = [answer1] @ = [answer2] @ = [answer3] Total Cost of Goods Sold: __________________ Space for FIFO calculations (not graded): b) What is the ending inventory balance under FIFO? From: # Units Left @ Unit Cost = Total (Ending Balance) [answer5] @ = [answer6] Space for FIFO calculations (note: # of Units IS graded): c) What is the ending inventory balance if Receiver instead used LIFO? From: # Units Left @ Unit Cost = Total (Ending Balance) [answer7] @ = [answer8] Space for LIFO calculations (note: # of Units IS graded): d) What is cost of goods sold if Receiver instead used the weighted-average method? Weighted-AverageCOGS: # Units Sold @ Wtd. Avg. Cost per UnitRound ans. to 2 decimals = Total CostRound to nearest whole dollar 700 @ [answer9] = [answer10] e) Given the above information, under which cost flow method would Receiver Company report the highest (i.e., largest amount for) Cost of Goods Sold? The cost flows methods to choose from are FIFO, LIFO, or Weighted average.(Answer is worth 1 point): [answer11]