Homework Question no. 1: - Fahed Co incurred the following transactions during the month of December 2019. December 1: Beginning Inventory (108 units @ 5.25 per unit). December 6: Purchased 52 units @ 5.50 per unit. December 10: Purchased 34 units @ 5.75 per unit. December 13: Sold 128 units @ 12 per unit. December 15 Sold 22 units @ 12.50 per unit. December 19 Purchased 123 units @ 4.75 per unit. December 31: Sold 78 units @ 12.25 per unit. Required: You have to use "FIFO" methods and calculate the following: Calculate cost of ending inventory on December 31, 2019 Calculate cost of goods sold for the period ending on December 31, 2019 Calculate gross profit for the period ending on December 31%, 2019. Homework Question no. 2: - Lebanon Trading Company reported the following January purchases and sales data for its only product. Ads U SR Date + Being Usodat 140 14 10 60300 Jan 115 Purchase 31.99 Required: You have to use "FIFO" methods and calculate the following: Calculate cost of ending inventory on Jan 31, 2019 Calculate cost of goods sold for the period ending on Jan 31", 2019 Calculate gross profit for the period ending on Jan 31, 2019