Acura Inc. purchases watches from a foreign supplier. These are then sold to the local retailers in the company's hometown. Details of Acura Inc.'s inventory transactions during the month of January 2016 are provided below: Date Transactions Units Purchased Unit Cost /(Sold) Jan 1 Beginning Inventory 30 $145 Jan 5 Purchase 35 $150 Jan 10 Sales 25 Jan 18 Purchase 20 $165 Jan 20 Purchase 10 $175 Jan 22 Sale 30 Jan 28 Sale 20 Required: Assuming the company uses a perpetual system, calculate: i. The cost of goods sold for January (show each sale separately, and then total). ii. The value of the ending inventory as at January 31, 2016. Under each of the following methods: a. First In, First Out (FIFO) b. Average Cost 6 Marks 9 Marks