D.O.J Company had a beginning inventory of 50 units at a cost of $1 per unit. Below you will find information related to purchases and sales for the month of July 2020. PURCHASES SALES Description Date Date Unit cost Units Units Description Unit price July 11 10 2 Sold 30 5 Purchased Purchased July 10 15 20 20 3 Sold Sold 25 15 5 5 27 Required: a) Assuming the company uses the Fifo cost flow assumption and a periodic inventory system determine the following costs: (15 points) Show value here 6 Show calculations here 6 Beginning Inventory = Purchases - Cost of Goods Available for Sale = Ending Inventory COGS b) Assuming the company uses the Average cost flow assumption and a perpetual inventory system calculate Ending Inventory and COGS using the table below (or you can use the space after the table) (15 points) BALANC DA PURCHA SAL E TE SES ES (INVENT ORY) Tot Tot Unit Unit Total Unit al Unit al Units Cost Cos Unit Cost Cost Cos Cos S t 1 10 11 15 20 27 CO GS Ending Inv entory = c) Between FiFo and Average Cost, which method results in a lower Gross Profit? Explain. (10 points)