Alpha Furniture buys and sells cabinets and drawers for the last 5 years at their Michigan outlet. Alpha Furniture purchases the furniture from the wholesaler and then sells the furniture to the customers from their retail outlet at Michigan The following information is for Alpha Furniture for the month ended September 30, 2017. Date Description Quantity Unit Cost or Selling Price September 1 September 8 Opening Inventory Purchase 70 90 270 86 September 12 Sale 220 130 September 16 Sale Return 30 130 September 21 Purchase 120 90 September 22 Purchase Return 30 90 September 24 Sale 130 150 September 27 Purchase 60 110 Alpha Furniture uses the periodic method for inventory. Required: a. Calculate (i) Ending Inventory, (ii) Cost of Goods sold, (iii) Gross Profit and Gross Profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. b. From your calculations, analyze which method results in 1. The highest ending inventory, and 2. The highest cost of goods sold.