$1 ,8?5 {$525 each}, FOB destination, terms ni'BD. 2? She sells one deluxe mixer for $1,150 cash. Instructions {a} Preparejournal entries for each of the transactions. (b) Determine the cost of goods available for sale. Recall from Chapter 5 that at the end of January, Cookie Creations had three mixers on hand at a cost of $555 each. (c) Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross profit rate under each of the following methods: LIFO, Fl F0, and average cost. (Round average unit cost to three decimal places.) (d) Natalie is thinking of getting a bank loan. If this is the only factor Natalie has to consider in choosing an inventory cost flow assumption, which cost flow assumption would you recommend that Natalie use? Why