Homework Question no. 1: - Ahmed Co incurred the following transactions during the month of December 2020. December 1: Beginning Inventory (100 units @ 5.00 per unit). December 6: Purchased 50 units @ 5.50 per unit. December 10: Purchased 30 units @ 5.75 per unit. December 13: Sold 140 units @ 12 per unit. December 15 Sold 25 units @ 12.50 per unit. December 19 Purchased 120 units @ 6.00 per unit. December 31: Sold 70 units @ 13.00 per unit. Required: You have to use "FIFO" and "Average Method" and calculate the following: Calculate cost of ending inventory on December 31st, 2020 Calculate cost of goods sold for the period ending on December 31, 2020 ii. Calculate gross profit for the period ending on December 31st, 2020. Homework Question no. 2: - Gulf Trading Company reported the following January purchases and sales data for its only product for the month of January 2021. Units Acated at Cout Lists Sete Porta 140 unit @ 8:00 = 5 340 100 units Date Activities Jant Beginning inventory Sales 10 Jan Purchase 20 Jan Sales 6 500 300 contens Jan 30 Purchase 180 unts 450_350 Total Required: You have to use FIFO and Average Method and calculate the following: Calculate cost of ending inventory on Jan 31%, 2021. b) Calculate cost of goods sold for the period ending on Jan 31s, 2021, Calculate gross profit for the period ending on Jan 31st, 2021. c)