Given: Following informations ha e been extracted from the books of Ali Company during the year 2001. It uses the periodic ventory system. January 5, Purchases... March 10, Purchases.. July 15, Purchases.. September 4, Purchases... October 5, Purchases.... December 20, Purchases..... 500 units @Rs.3.00 per unit 600 units @Rs.3.50 per unit 700 units @Rs.3.75 per unit 1000 units @ Rs.4.00 per unit 500 units @Rs.4.25 per unit 400 units @Rs.4.50 per unit The inventory at January 1, 2001 was 300 units @ Rs.2.75 per unit. The inventory at December 31, 2001 was 1150 units. All units sold at Rs.5.50 per unit. REQUIRED: under: a) FIFO Calculate the Ending Inventory, Cost of Goods Sold and Gross Profit c) WEIGHTED AVERAGE