Edgware had 150 units of brake discs in inventory on 19 November 2020, purchased at 18 per disc. During the month of November 2020, the following transactions occurred regarding inventory: Date Quantity in units Cost per unit 7th November 200 15 Purchases 14th November 300 14 21 November 50 12 28th November 100 17 4th November 80 Sales 11th November 70 18th November 250 25th November 200 Required: Prepare the gross profit section of the income statement for the month of November 2020 and calculate the gross profit, assuming Edgware selling price during the month of November 2020 was 50 per unit, under each of the following inventory flow assumptions: 1. First in first out 2. Last in first out 3. Weighted average