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GBC Golf Balls had a beginning inventory balance on July 1 of 600 units at a cost of $3 each. During the month, the following inventory transactions took place: Purchases Sales Date Units Cost per unit Date Units Price per unit July July 10 1,300 3.1 2 300 6.00 13 700 3.4 11 1,000 6.00 27 600 3.75 28 400 6.50 Instructions a. Assume GBC uses moving average perpetual. Calculate the cost of ending inventory and cost of the goods sold using the 9 column schedule as shown in cass b. Assume GBC uses FIFO perpetual. Calculate the cost of ending inventory and cost of goods sold using either "quick FIFO" or the 9 column schedule c. Input the results of parts (b) and (c) above into a partial Income Statement (to Gross Profit) i Calculate the GP for each method ii Calculate the MU% for each method Id. Which method gives the highest gross profit