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At the end of January, Higgins Data Systems had an inventory of 790 units, which cost $17 per unit to produce. During February the company produced 1,800 units at a cost of $20 per unit. If Higgins sold 2,400 units in February, what was its cost of goods sold? a. Assume average cost inventory accounting. (Do not round intermediate calculations. Round your answer to nearest whole dollar.) Cost of goods sold b.Assume FIFO inventory accounting Cost of goods sold $ InnerVision Limited anticipates total sales of $400,000 from July through October. Materials will represent 60 percent of sales and because of level production, material purchases will be equal for each month during these four months. Materials are paid for one month after the month purchased. Materials purchased in June were $36,000 (half of $72,000 in sales). Labour costs for each of the four months are slightly different due to a provision in the labour contract in which bonuses are paid in August and October. Fixed overhead is $22,000 monthly. The labour figures are: July August September October $26,000 29,000 26,000 31,000 Prepare a schedule of cash payments for July through October InnerVision Limited Cash Payment Schedule July $ June August S September October Purchases S Payment to material purchases Labour Fixed overhead Total cash payments