At the end of July 2023 inventory of Red and Red Limited (RB) comprised 10,000 units. Each unit of inventory cost $12. During the month of August the following purchases and sale of inventory was incurred by R&R: Date Transaction Description Number of Units Value 2 August Purchase 15,000 $14 8 August Purchase 12,000 $11 14 August Sale 19,000 $32 17 August Purchase 8,000 $15 23 August Sale 18,000 $35 28 August Purchase 5,000 $10 Required: 1. Assume R&R uses the periodic inventory system. Calculate the value of ending inventory at the end of August based on the weighted-average inventory flow assumption. 12 Marks] 2. Assume R&R uses the periodic inventory system. Calculate the value of cost of goods sold for the month of August based on the first-in, first-out inventory flow inventory assumption. [2 Marks] 3. Assume R&R uses the perpetual inventory system. Based on the last-in, first-out inventory assumption, calculate (i) the value of ending inventory at the end of August; and (ii) gross profit for the month of August. 14 Marks] ragraph