Q.2 Shown below is activity for one of the products of Sur Office Equipment: January 1 beginning inventory 500 unit at OMR55 each Purchases: January 10 500 units at OMR60 each January 20 1,000 units at OMR63 each Sales: January 12 800 units January 28 750 units Required: 1. Compute the ending inventory and cost of goods sold assuming Denver uses FIFO. 2. Required: Compute the ending inventory and cost of goods sold assuming Denver uses average cost and a periodic inventory system