2 October 1 Beginning inventory ABC Company uses the periodic inventory system to account for inventories. The unit selling price is $24. Information related to ABC Company's inventory at October 31 is given below: 400 units @ $9.80 = 800 units @ $10.40 = 700 units @ $24.00 = 600 units @ $10.80= 750 units @ $24.00 = 200 units @ $11.80 = 550 units 8 Purchase 12 Sales 16 Purchase 22 24 Sales Purchase Closing inventory Required: $ 3,920 8,320 16,800 6,480 18,000 2,360 (a) Show computations to value the ending inventory and cost of goods sold using the FIFO cost assumption. Please shows your workings. (b) Show computations to value the ending inventory and cost of goods sold using the average cost method. Please shows your workings. Round your answers to 2 decimal places. (c) Assume ABC uses the perpetual inventory system to account for inventories. Repeat (a) and (b) calculation. Please shows your workings. Round your answers to 2 decimal places. (Total 9 marks)