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The Birchwood Company has the following information available from their inventory records: Units 5,800 Unit Cost $14.50 15.00 Beginning Balance at January 1, 2018 . 16.00 16.75 Purchased, November 15, 2018 5,400 17.25 A physical inventory count on December 31, 2018, shows 9,800 units on hand. Prepare schedules to compute the cost of goods sold and ending inventory at December 31,2018, under each of the following inventory methods: (1) Periodic FIFO. (Be sure to calculate COGS and Ending Inventory; show your work!) (2) Perpetual LIFO. (Be sure to calculate COGS and Ending Inventory; show your work!) (3) Periodic Average (Be sure to calculate COGS and Ending Inventory; show your work!) Edgewater Corporation has the following information available at the end of December, 2018: None of the following items had been included in the $690,000 inventory amount, but the company's controller wants to know if the items should be included in our ending inventory: Purchases, December 30, shipped FOB shipping point; goods have not yet been received 45,000 .. . . . . . . . . . .. . Purchases, December 30, shipped FOB destination; 28,000 Good held on consignment from Small Company . . . .. .5,000 Goods out on consignment with Sister Company... . . . . . . .5,000 goods have not yet been received... . . . . . . . . . . .. Product is in our shipping department ready to ship to customer; shipping terms FOB destination .. . . . .10,000 Bill from a transport company for freight-in on a purchase 500 INSTRUCTIONS: Prepare a schedule of inventory, beginning with the $690,000 balance, to show which of the above items would be included in the final inventory balance as of December 31, 2018. 1) 2) What is the final inventory balance

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