As an accountant, the Riyadh Company's Controller has provided you with the following information for Riyadh Inc for the month ended February 28, 2019. The Company uses the periodic method for inventory and follows the FIFO cost flow method. Quantity (units) Date Feb 1 Feb 4 Description Beginning inventory Purchase Unit Cost or Selling Price in SR $0 80 270 86 Feb 10 Sale 220 140 Feb 18 Purchase 9 110 120 2 152 Sale Feb 25 Feb 28 Purchase 100 Instructions: i. ii. iii. iv. v. Determine the cost of goods available for sale. Determine the cost of ending inventory. Determine the cost of goods sold. Determine the sales revenue. Post the related entries in the T-accounts below. Note that 30% of the sales are on cash and the cash account has a beginning balance of 10,000 SR. The remaining 70% of the sales are on account. In case of inflation, which cost flow assumption will result in a higher cost of goods sold and which will result in a higher ending Inventory cost. Explain