2. The following represents the inventory of Rajan Company for the month of April: April 1 Beginning Inventory April 2 Sales April 3 Purchases April 10 Sales April 21 Purchases April 28 Sales 100 units @ $8 50 units 300 units @ $12 250 units 400 units @ $16 200 units a. Assuming a periodic inventory system is used by Rajan Company, what is ending inventory under LIFO? b. Assuming a periodic inventory system is used by Rajan Company, what is ending inventory under the Weighted Average cost method? c. What is the gross margin for a and band c above? Assume all units were sold for $40 per unit