4 Snowie Company uses periodic inventory method of accounting for its inventory transactions, andthey have provided you with the following information: Beginning inventory, 2,500kgs at a cost of RM 0.50 per kg. July 1 4 Purchased 3,000kgs at a cost of RM 0.55 per kg. 8 Sold 2,800kgs for RM 0.80 per kg. 12 Purchased 1,800kgs at a cost of RM 0.58 per kg. Purchased 2,000kgs at a cost of RM 0.60 per kg. Sold 4,200kgs for RM 0.90 per kg. 19 27 Required: Prepare partial income statements through gross profit and calculate the value of ending inventory that would be reported on the Statement of Financial Position using Specific identification method assuming: i. The July 8 sale consisted of 1,500kgs from the July 1 beginning inventory and the rest from the July 4 purchases. ii. The July 27 sale consisted of the following number of units sold from each purchase: 1,000kgs from July 1; 1,500kgs from July 4; 1,500kgs from July 12; the rest is from July 19