Q1) Marlow Company uses a perpetual inventory system. It entered into the following calendar-year 2011 purchases and sales transactions Date Activities Units acquired Units sold at at cost retail Jan 1 Beg Inventory 600 units @$44/unit Feb 10 Purchase 200 units @$40/unit March 13 purchase units@ $20/unit March 15 sale 400 units @$75/unit Aug 21 purchase 160 units @$60/unit purchase 280 units @$48/unit sale 200 units @$75/unit 100 Sept 5 Sept 10 1340 units 600 units Required 1. Compute cost of goods available for sale and the number of units available for sale using LIFO and FIFO 2. Compute the number of units in ending inventory. 3. Compute gross profit earned by the company for each of the LIFO in part 3. 4) If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer