1- How does cost accounting differ from financial accounting? 2- The Sunshine company uses periodic inventory system. The company makes a physical count at the end of each accounting period to find the number of units in ending inventory. The company then applies first-in, first-out (FIFO//average method to compute the cost of ending inventory The information about the inventory balance at the beginning and purchases made during the year 2017 are given below: Mar. 01 Beginning balance: 400 units @ $18 per unit $7,200 Mar. 12 Purchases: 600 units a $20 per unit $12,000 Oct. 17 Purchases: 800 units @ $22 per unit $17.600 Dec. 15 Purchases: 200 units @ $24 per unit $4.800 Available during the year 2017 2,000 units $41.600 On 31st December 2017, 600 units are on hand according to physical count. Requirements: Compute the following using first-in, first-out (FIFO)/average method: 1. Cost of ending inventory at 31 December 2017. 2. Cost of goods sold during the year 2017. 3- The business transactions of Robinson Company are given below. Robinson factory manufactures furnitures and accounts manufacturing job-costing system using normal costing. - Purchase of direct and indirect materials. $90,000 - Usage of direct materials, $80,000, and indirect materials, $5,000 - Cash paid for direct manufacturing labor, $30,000, and indirect manufacturing labor, $20,000 - Incurrence of other manufacturing dept. overhead, $75,000 - Allocation of manufacturing overhead, $80,000 - Completion and transfer to finished goods, $150,000 - Incurrence of marketing and customer-service costs, $40,000 - Sales, $250,000 - Cost of goods sold, $180,000 Requirements: Journalize and post the transactions to the ledger