Cost/selling price Units 3. June $1.00 $1.10 $1.50 $1.20 $1.30 $1.50 1 Inventory 6 Purchase Sale 50 units 50 units 70 units 150 units 100 units 210 units 10 13 Purchase Purchase Sale 20 30 Required: Using perpetual inventory system, compute ending inventory balance, cost of goods sold and gross margin under FIFO. (25 % ) Units Cost/sellins.price 1 Beginning inventory 4 Purchase June $30 33 60 300 800 8 Sale 12 Purchase 16 Sale 20 Sale 400 1,000 700 500 36 60 60 Required: Using periodic inventory system, Compute ending inventory balance, cost of goods sold and gross margin under LIFO. (25%)