5. Begining inventory purchase and sale for item ER27 as follows: Nov 1 Inventory 40 @ $5 5 Sales 32 units 11 Purchase 60 units @ $7 21 Sales 45 units Assuming a perpetual inventory system and using First-In, First-Out (FIFO) method, determine: a. The cost of merchandize sold on November 30th and b. The inventory on November 30th. 6. Periodic Inventory: Jan 1 Inventory 100 units @ $20 10 Purchase 80 units @ $21 30 Purchase 100 units @ $22 The physical count on January 31 shows that 150 units are on hand. Using FIFO, LIFO, and Average method compute the closing inventory