5) Movies Abound Pty Ltd sells DVDs from the performing artist Edwin Drood. At the beginning of October, Movies Abound had in beginning inventory 1100 Drood DVDs with a unit cost of $10. During October, Movies Abound made the following purchases of Drood DVDs. During October 12,100 units were sold. Movies Abound uses a periodic inventory system. Required a. Determine (1) the ending inventory and (2) the cost of sales under FIFO and average cost methods. b. Which cost flow method results in (1) the higher inventory amount for the statement of financial position and (2) the higher cost of sales for the statement of profit or loss? And why