ected View) Microsoft Word dView. Enable Editing Assignment 2- 28.June.2020 Question 1: Bravo company Uses a periodic inventory system and it has the following inventory information for the month of July Date Juli Jul.s Jul.7 Jul. 14 Explanation Units Unit cost/selling price Beginning inventory 30 60 Purchases 180 65 Purchase return 10 65 Sales 120 70 Use LIFO method and Calculate: 1) cost of ending inventory 2) cost of goods purchased 3) cost of goods sold 4) Gross profit Question 2: In a period of inflation which of the two cost flow assumptions (FIFO, Average cost ) would 140% A) ENG 5:16 PM 6/28/2020 D