Question 2: PERIODIC Drummer Company reported the following inventory transactions during the quarter. Assume that Drummer Company uses the periodic inventory system and that the following occurred: Date Units Per Unit Transactions 1-Feb- Beginning Inventory 3-Feb- Purchase 5-Feb-Sold 10-Feb- Purchase 12-Feb-Sold 24-Feb- Purchase 28-Feb- Sold 30 280 260 190 180 90 110 $105 $130 $255 $135 $230 $145 $298 SHOW ALL WORK Using FIFO calculate Cost of goods sold: Ending Inventory Gross Margin in percent Inventory turnover Using LIFO calculate: Cost of goods sold: Ending Inventory Gross Margin in percent Inventory turnover Using Average calculate: Cost of goods sold: Ending Inventory. Gross Margin in percent Inventory turnover