P 6.5 You are provided with tie following information for Santa Ltd. For the month ended October 31, 2020. Date Units Unit cost or selling price Oct. 1 Description Beginning inventory Purchase 60 24 Oct. 9 120 26 Oct. 11 Sale 100 35 Oct. 17 Purchase 70 27 Oct. 22 Sale 65 40 Oct. 25 Purchase 80 28 Oct. 29 Sale 120 40 Instruction a Calculate (1) ending inventory, (2) cost of goods sold, (3) gross profit, and (4) gross profit rate under each of the following method 1. FIFO 2. Average-cost b. Compare results for each cost flow assumptions