1 A company has a beginning inventory of 50 units at a cost of RM5 per unit. The company made a purchase of 150 units throughout the year. Sales for the year is 130 units at a price of RM15 per unit. The inventory record shows the following:- Date Units Cost 1 January Beginning 50 RM5 Inventory 1 February Purchases 50 RM6 1 June Purchases 50 RM7 1 November Purchases 50 RM8 31st December Ending Inventory 70 a. What is the value of the ending inventory if the company is using the First in First Out Method? b. What is the amount of the cost of goods sold? c. What is the gross profit of the company