I need help solving the following (Please Show Calculations, so I know what you did):Calculate the ending inventory and cost of goods sold using the FIFO method.Note: I also attached an example of how the chart should look like, please follow that example. Beginning inventory of 2,000 units @5,00 per unit.Purchased 8,000 units @ $5.50 per unit.Sold 6,000 units for $12,00 each.Purchased 6,000 units for $6.00 per unit.Sold 7,000 units for $11 per unit.Purchased 4,000 units for $6.50 per unit.2Operating expenses were $25,000 for the periodRequiredCalculate the amount of units in ending inventoryCalculate ending inventory and cost of goods sold using perpetual fifo,Calculate ending inventory and cost of goods sold using perpetual lifo.Prepare an income statement using FIFO and LIFO.Units in Ending Inventory:FIFOEnding Inventory2000 x 5DatePurchasesSales12000 x 528000 x 5.502000 x 58000 x 5.502000 x 54000 x 5.504000 x 5.5046,000 x 64000 x 5.506000 x 64000 х 5.503000 x 63000 x 64000 х 6.503000 x 64000 x 6.50EN3 456 Jensen Company had the following transactions regarding their inventory, They use aperpetual inventory system.1. Beginning Inventory: 100 units @ $6.00 per unit100 units @ $7.00 per unit150 units @ $15.00 per unit150 units @ $8.00 per unit150 units @ $15.00 per unit2. First Purchase:3. Sale4. Second Purchase5. SaleRequiredCalculate the ending inventory and cost of goods sold using the FIFO method.Calculate the ending inventory and cost of goods sold using the LIFO method.FIFODatePurchasesSalesEnding Inventory1234Ending InventoryCost of Goods Sold

Name: I need help solving the following (Please Show Calculations, so I know
Uploaded: 2022-11-21T18:53:23.000Z
Channel: Bartleby
Description: I need help solving the following (Please Show Calculations, so I know what you did):Calculate the ending inventory and cost of goods sold using the FIFO method.Note: I also attached an example of how the chart should look like, please follow that ex