Accounting Calculate the Gross Profit using Moving Average and FIFO. I need help with this question. Thanks!

3. Nisson Inc distributes electronic components and has just completed their first year of operation. Management is looking forward to finding out what the profit for the year was because they get paid a bonus based on net income. The accountant has provided them with the following information concerning their inventory for the year: Sales: 8,000 units Total revenue: $172,000 Purchases: 10,000 units Total cost: $190,000 Ending inventory under moving average: Ending inventory under FIFO: $ 36,667 $36,000 Required: Calculate the gross margin if Nisson decides to use the moving average cost flow assumption. (1M) Calculation for Gross Profit Answer a. $ b. Calculate the gross margin if Nisson decides to use the FIFO cost flow assumption. (1M) Calculation for Gross Profit Answer $ C. Based on your answers to (a) and (b) which cost flow assumption would management prefer if their compensation is based on the financial performance of the company? (1M)