Inventory Costing Methods Gavin Products uses a perpetual inventory system. For Year 1 and Year 2, Gavin has the following datas Activity Purchase Price (per unit) Units Sale Price (per unit) Year 1 Beginning inventory 200 $9 Purchase 1, Feb. 15 300 11 320 $25 Sale 1, Mar. 10 Purchase 2, Sept. 15 Sale 2, Nov. 3 500 12 550 25 Purchase 3, Dec. 20 150 13 Year 2 Sale 3, Apr. 4 200 25 Purchase 4, June 25 200 14 Sale 4, Dec. 18 150 25 Required: 1. For each year, compute cost of goods sold, the cost of ending Inventory, and gross margin using FIFO Year 1 Year 2 Cost of goods sold Cost of ending inventory Gross margin 2. For each year, compute cost of goods sold, the cost of ending inventory, and gross margin using UFO Year 1 Year 2 Cost of goods sold Cost of ending inventory Gross margin 3. For each year, compute cost of goods sold, the cost of ending Inventory, and gross marinosing the average cost method (Note Use four decimal places for per unit calculations and round all other numbers to the nearest dollar) Year 1 Year 2 Cost of goods sold Cost of ending inventory Gross marg 6. Conceptual Connection Computeavin's gros profitabi and Inventory turnover ratio onder each of the three inventory costing methods. Round your answers to two decimal places FIFO Method LIFO Method Year 1 Average Cost Method Year: Year 2 Year 2 Year 1 Year 2 Gross profit Twenty tuve