Question 1 Surfing outlet store began December 2017 with 41 units of inventory that cost $ 34 each. The sale price of these units was $ 60. During December, the store completed the inventory Transactions below: Units Unit Cost Units Sale Price Dec 3 Sale . . .. . . 16 $ 34 $ 60 8 Purchase . . . . 78 35 62 11 Sale . . . . 25 34 60 19 Sale . . 5 35 62 24 Sale 32 35 62 30 Purchase . . . . 32 36 73 31 Sale . . .... . . ... 13 35 62 Requirements 1. Determine the store's cost of goods sold for December under the perpetual inventory system. a.)Assume the FIFO method. jb.)Assume Weighted Average method 2. Calculate Gross Profit a.) FIFO b.) Weighted Average