: INVENTORY VALUATION - The records of AADIL & Co. show the following purchases and sales transactions for the month of January, 2007. January 01. Beginning inventory 80 units @ Rs.15 per unit Sanillary 03. Purchased 300 units @ Rs.16 per unit 1 Tanuary 05. Sales 200 units @ Rs.25 per unit January 10. Purchased 400 units @ Rs.18 per unit January 16. Sales 500 units @ Rs.25 per unit January 27. Sales 50 units @ Rs.25 per unit: January 31. Purchased 100 units @ R3.20 per unit REQUIRED: Deternine the COST OF ENDING INVENTORY, COST OF GOODS SOLD & GROSS PROFIT: Under Perpetual and Periodic Inventory System assuming i)FiFO ii) LIFO iii) AVERAGE COST METHOD