A. first-in, first-out (fifo) b. last-in, first-out (lifo) c. average cost $ 193 $111 $ 177 $275 $266 2: 12 7. ex.07-166 beginning inventory. purchases, and sales data for hammers are as follows: mar. 3 11 inventory 12 units purchase 13 units @ mar. 3 inventory 12 units at $15 11 purchase 13 units at $17. 14 sale 18 units 21 purchase 9 units at $20 25 sale 10 units assuming the business maintains a perpetual inventory system, complete the subsidiary invento calculate the cost of merchandise sold and ending ihventory under the following assumptions: (a) first-in, first-out (b) last-in, first-out