Assignment=3(Ch45)(2) (Protected View) - Word dhillonkamalpreet References Mailings Review View Help Tell me what you want to do nternet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing WYWIE WYCOIN d. Inventory costs are increasing, and the company prefers to report high income.e. Inventory costs have been stable for several years, and you expect costs to remain stable for the indefinite future. (Give the reason for your choice of method.) Q4. Suppose Holt Renfrew, the specialty retailer, had these records for ladies' evening gowns during 2017 . . Beginning inventory (30 @ $1,000) $30,000 Purchase in February (25 @ $1,100) 27,500 Purchase in June (60 @ $1,200) 72,000 Purchase in December (25 @ $1,300) 32,500 Goods available $162,000 Assume sales of evening gowns totalled 130 units during 2017 and that Holt uses the weighted- average-cost method under the periodic inventory system to account for inventory. The income tax rate is 30%. . Requirements: 1. Compute Holt's cost of goods sold for evening gowns in 2017. O