Question \#1. 20 marks Part A and Part B are independent. Part A. (15 marks) (i) Using the fiscal year (annual) information for 2018, calculate GP percentage and inventory turnover ratio Inventory turnover =CGS/av. Inv (2 marks) (ii) (4 marks) Calculate GP percentage by quarter 1st quarter GP percentage = 2nd quarter GP percentage = 3rd quarter GP percentage = 4th quarter GP percentage = (iii) Recalculate inventory turnover ratio for 2018 using a weighted average of inventory over the year as follows: Use an average of averages. ( 6 marks) Comment on your results. ( 3 marks) Hector Company's records indicate the following information: 1 On December 31, 2018, a physical inventory count determined that El of $600,000 was in the warehouse. Hector's gross profit on sales has remained constant at 30%. Hector suspects some of the inventory may have been taken by some unsavory employees. Required: At December 31,2018 , what is the estimated cost of missing inventory