Question 2 (8 points) Saved Molly Hooper Medical Supplies uses a perpetual inventory system. Please answer the following questions related to the information provided for the month's transactions based on the First In, First Out (FIFO) method. There was no beginning inventory for this product on October 1.) First In, First Out (FIFO) perpetual method. The following table shows the Purchase & Sales data for the month of October Purchases Sales Date Units Unit Cost Units Unit Price 5 50 S12.00 8 You do not need to place your 100 12.27 work here as there are no marks 11 95 $20.00 for the calculations, just the 15 40 12.75 final answers. Please ONLY put 20 50 13.00 your final answers below. 22 140 20.00 25 20 13.02 What is the Cost of Goods Sold for the month using the FIFO method? 2. What is the gross profit on the October 22 transaction using the FIFO Method? 3. What is the ending inventory in Units for the month using the FIFO Method? 4. What is the ending inventory amount that would appear on the Statement of Financial Position (also known as the Balance Sheet) for Molly Hooper Medical Supplies using the FIFO method