Apple Inc is a retail store selling laptop computers. Only one type of laptop is sold. Using the data below, calculate the COGS, Gross Profit and Ending Inventory (units and dollar value) for the month of December. Assume that Apple Inc uses the FIFO method of inventory costing, and each laptop is sold for $1,100. 100 units $610 cost per unit December 1, beginning inventory December 8 - purchase 300 units $640 cost per unit December 12 - SELL 150 units December 15 - purchase 500 units $700 cost per unit December 20 - SELL 550 units If Apple Inc had used the weighted average method of inventory costing in December, what impact would this have had ... a. on Gross Profit? b. on the appropriate December 31 Balance Sheet account? Write brief comments only for your answers, without using calculations