Question 10 Deala Ltd. ("DL) is a retailer of office equipment. The company uses a periodic inventory system and bega October with 1,900 units with a total cost of $41.800. During the month of October, DL had the following inventory-related transactions: Date Oct. 9 12 Explanation Units Purchase 5,100 Purchases 4,100 Sale (@ $38/unit) (5,100) Purchase 4,400 Sale (@ $38/unit) (6,000) Unit Cost $23.00 22.50 Total Cost $117,300 92,250 17 25 22.80 100,320 28 Determine the cost of goods available for sale for the month. (Round answers to the nearest whole dollar, e.g. 5,275.) FIFO Average Cost of goods available for sale Calculate ending inventory at October 31 and cost of goods sold for the month assuming that DL used (1) FIFO and (2) average cost. (Round average cost per unit to 2 decimal places, e.g. 50.25 and all other answers to the nearest whole dollar, e.g. 5,275.) FIFO Average Cost of ending inventory $ Cost of goods sold Determine which cost formula would result in the higher gross profit for DL