1st Question: AQ Ltd. Company, had 200 units of inventory on hand at Dec 31, 2020. Purchases of inventory during the year were as follows: Date Explanation Units Unit cost $ Total Cost 1/2/2020 Purchase 250 4 1000 15/3/2020 Purchase 250 6 1500 26/5/2020 Purchase 350 7 2450 12/7/2020 Purchase 400 8 3200 12/9/2020 Purchase 450 11 4950 Total 1700 13100 Sales during the year around 18000 S (1500 unit sold). Usingperiodic inventory system, please compute the following: 1- Cost of ending inventory applying the FIFO method. 2- Cost of goods sold applying the FIFO method. 3- Gross profit applying the FIFO method. 4- Cost of ending inventory applying the average cost method. 5- Cost of goods sold applying the average cost method. 6-Gross profit applying the average cost method