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Question 1. Using a merchandise business that interests you, create your own example where the inventory unit cost changes during the period by addressing the

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Question 1. Using a merchandise business that interests you, create your own example where the inventory unit cost changes during the period by addressing the following: Assume there is NO BEGINNING INVENTORY. a) b) Assume a PURCHASE occurs on the 1st of the month. Make up your own quantity and unit cost. c) Assume another PURCHASE occurs on the 10th of the month. Make up a DIFFERENT quantity and unit cost. d) Assume 75% of all inventory units are SOLD on the 20th of the month. e) Now calculate COST OF GOODS SOLD under FIFO. Be specific and provide all detail

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