Problem 6-5 Fond Inc. has the following information is for the month of January 20XX. Date Description Quantity January 1 Beginning Inventory 100 January 5 Purchase 150 January 8 Sale 110 January 10 Sale return 10 January 15 Purchase 55 January 16 Purchase return 5 January 20 Sale 80 January 25 Purchase 30 Unit cost or Selling price $14 17 28 28 19 19 32 22 Instructions: 1. Complete the inventory stock card assuming that the company uses perpetual inventory system and first-in, first-out (FIFO) cost flow assumption and determine the following for the month of January: -(1) Cost of ending inventory (ii) Cost of goods sold (iii) Gross profit (iv) Gross profit rate. 2. Assuming that the company applies periodic inventory system and FIFO method, compute the following: - (a) Total units available for sales. (b) Total cost of goods available for sales. (c) Cost of ending inventory. (d) Cost of goods sold. (e) Gross Profit (f) Gross Profit rate 1. Complete the inventory stock card Inventory stock card Purchases Cost of Goods sold Date Unit Unit Units Cost Units Cost cost cost Balance Unit cost Units Cost i Cost of ending inventory #) Cost of goods sold iii) Gross profit iv) Gross profit rate 2. Assuming that the company applies periodic inventory system and FIFO method, compute the following: - Date Description Units Unit Cost CGAS Total units available for sale Units sold Ending inventory in units and cost Cost of goods sold Sales revenue Date Total sales Units Unit price e) Gross profit f) Gross profit rate