Instructions for Problem Solving/Short Response Complete Problems 1-5 as instructed showing all supporting calculations; partial credit will be given when conceptual understanding is demonstrated. Questions 1-3 are worth 20 pts ea. Questions 4-5 are worth 10 pts ea. 1. The Coffee \& Cream Company's inventory records reflect the following for the month of October 2016: Assuming that Coffee \& Cream Company uses the FIFO cost flow method in a perpetual inventory system calculate the following: a. Cost of Goods Sold for the month of October 2016 b. Gross Margin for the month of October 2016