ABC Company sells a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows: Beginning balance of 18 units at $13 each Purchased 30 units at $14 each Sold 24 units at S30 selling price each Purchased 24 units at $17 ench January 1: January 12: January 19: January 20: January 27: Sold 27 units at S30 selling price each Calculate the cost of goods sold and the Gross Profit under the following assumptions: a) FIFO b) LIFO c) Average Hint: complete the chart below for assistance Date Units Units Total Purchases Cost Cost Jan. 1 Jan. 12 Jan. 20