Problem 1 (10 pts.): Morton Company uses the periodic inventory method. The company's 20XX inventory information is as follows: 1/1 Beginning Inventory 2/20 Purchase 7/25 Purchase 10/20 Purchase S 400 $ 2,000 $1,400 S 4,000 100 $4 $5 $7 400 200 500 $8 A physical count of inventory on December 31, 20XX revealed there were 400 units on hand. Instructions: Answer the following independent questions and show computations supporting your answers to receive credit. a. How many units were available for Morton Co. to sell during the year? b. What is the total cost of the units available for sale? c. Assume the company uses the FIFO method. Calculate the value of the ending inventory at 12/31. d.Calculate the Cost of Goods sold under FIFO