24 Question C: Accounting for Inventory and Cost of Sales (8 marks; 15 minutes) The records of Storex Inc. showed the following information for one of its merchandise items for January 2022. January 1 2022. Inventory, measured at FIFO = $228 (19 units x $12 per unit) Inventory, measured at weighted average cost = $190 (19 units x $10 per unit) Transactions during January 2022 Units Unit Cost Purchase, January 9 25 15 Total Cost $375 Purchase, January 20 50 16 800 Sale, January 11, (at $38 per unit) 40 Sale, January 27 (at $39 per unit) 28 Storex Inc. uses a perpetual inventory system. REQUIRED: (ROUND YOUR CALCULATIONS TO TWO DECIMAL PLACES) 1. Compute the cost of ending inventory using the FIFO method. (2 marks) 2. Compute the cost of the unite 27 using the waid rage cost MacBook Air AA DII DD F9 F5 F6 F7 F8 J F10 - a A Co