1. WB Inc has the following transactions during October, 2020: Oct 1 Purchased 750 units @ $106 each Oct 4 Purchased 600 units @ $107 each Oct 6 Sold 750 units @ $179 each Oct 8 Purchased 1100 units @ $107 each Oct 13 Sold 800 units @ $179 each Oct 20 Purchased 1500 units @ $108 each Oct 22 Sold 700 units @ $177 each Oct 27 Sold 750 units @ $178 each Oct 28 Purchased 1000 units @ $109 each Oct 30 Sold 500 units @ $178 each If beginning inventory was zero units, calculate total sales, cost of goods sold, gross profit and ending inventory for the month of October using each of the following inventory methods: 1. FIFO Perpetual 2. LIFO Periodic 3. Average Cost Periodic (round average to nearest cent) 2. The following data were taken from the annual reports of M. Co. and S. Inc. who have competing products. M. Co. Inc. Cost of Goods Sold $7,765,000 $61,430,000 Inventory, end of year $1,325,000 8,150,000 Inventory, beginning of year $1,730,000 10,680,000 S. Oct 4 Purchased 600 units @ $107 each Oct 6 Sold 750 units @ $179 each Oct 8 Purchased 1100 units @ $107 each Oct 13 Sold 800 units @ $179 each Oct 20 Purchased 1500 units @ $108 each Oct 22 Sold 700 units @ $177 each Oct 27 Sold 750 units @ $178 each Oct 28 Purchased 1000 units @ $109 each Oct 30 Sold 500 units @ $178 each If beginning inventory was zero units, calculate total sales, cost of goods sold, gross profit and ending inventory for the month of October using each of the following inventory methods: 1. FIFO Perpetual 2. LIFO Periodic 3. Average Cost Periodic (round average to nearest cent) 2. The following data were taken from the annual reports of M. Co. and S. Inc. who have competing products. M. Co. S. $7,765,000 Inc. Cost of Goods Sold $61,430,000 Inventory, end of year 8,150,000 Inventory, beginning of year 10,680,000 $1,325,000 $1,730,000 (a) Determine the (1) inventory turnover and (2) number of day's sales in inventory for M. Co. and S. Inc. Round your answer to two decimal places. (b) Which company is more efficient with their inventory management? Explain in your own words