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 31st, 2020 1. 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. Unt Acoured Cou Untes Sold total 540 unts @ 5600 5 340 100 unts @315 Date Activities Jan. 1 Beginning inventory Jan Sales 10 Jan Purchase 20 Jan Sales 25 Jan Purchase 30 Total 6 unit @ 5500 300 10 units @315 180 units 54.50 310 380 $11.96 180 units Required: You have to use "FIFO and Average Method and calculate the following: Calculate cost of ending inventory on Jan 31st, 2021. b) Calculate cost of goods sold for the period ending on Jan 31st, 2021, Calculate gross profit for the period ending on Jan 31, 2021. c)