Question 1: Pillsbury Company's manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. Date Transaction Quantity Price/Cost $31 50 3/6 6/26 8/2 10/31 Beginning Sale Purchase Purchase Sale 1,600 1,000 3,500 2,000 4,000 34 52 Required Compute the cost of goods sold of the following bases. Assume that the company used the periodic system to report its inventory. Carry unit costs to the nearest cent. (1) First-in, first-out (FIFO) A. (2) Last-in, first-out (LIFO) (3) Average cost. B. Repeat your calculations in (1), (2), and (3) above, under the assumption that the company used the perpetual system to report its inventory. Carry average unit costs to at least two decimal places