Eddings Company had a beginning inventory of 400 units ofProduct XNA at a cost of $8.00 per unit. During the year purchaseswere:Feb. 20 600 units at $9 Aug 12 300 units at $11May 5 500 units at $10 Dec 8 200 units at $12Instructionsa. Determine the cost of goods available for saleb. Determine (1) the ending inventory and (2) the cost of goodssold under each of the assumed cost flow methods (FIFO LIFO andaverage). Prove the accuracy of the cost of goods sold under theFIFO and LIFO methods.c. Which cost flow method results in (1) the lowest inventoryamount for the balance sheet and (2) the lowest cost of goods soldfor the income statement.