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 Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Sales 100 units @ $15 Jan 10 Jan 20 Purchase 60 units @ $5.00 = 300 Jan 25 Sales 80 units @ $15 Jan 30 Purchase 180 units @ $4.50 = 810 Totals 380 units $1.950 180 units Required: You have to use "FIFO" and "Average Method" and calculate the following: a) Calculate cost of ending inventory on Jan 31, 2021. b) Calculate cost of goods sold for the period ending on Jan 31", 2021, c) Calculate gross profit for the period ending on Jan 31", 2021