Question # 1 Revisit 1 Electronic Inc, sells electronic merchandise including personal computers (PC) offered for the first time in September, which retails for $695. The sales of PC for the next six-month period (ending on February 28) totalled $52,125. Purchase records indicates the followings. Units Purchase Date September 10 Cost per unit (in $). 12 370 October 15 20 375 November 2 32 360 December 10 11 350 February 3 10 335 (a) Calculate gross margins following FIFO, LIFO, and Average cost method of month period ending on February, 28. inventory valuation for the six (b) Calculate the closing inventory for the six month ending on 28 February following all the three methods mentioned above in (a). (4+1 Marks)