Question 3 (1.5 marks) 1. Binh nh's inventory, purchases, and sales for March and April follow. The company closes its books at the end of each month. It uses the perpetual inventory system. March 1 Beginning Inventory 160 Units at $49 10 Purchase 100 Units at $52 31 Ending Inventory (70 +STT) Units Stt=29 April 4 Purchase 120 Units at $53 15 Purchase 50 Units at $54 23 Sale 200 Units 25 Purchase 100 Units $55 30 Ending inventory ??? Required: a. Compute the cost of the ending inventory on March 31 and April 30 using the average-cost method. In addition, determine cost of goods sold for March and April. (Round unit costs to the nearest cent.) (0.5 marks) b. Compute the cost of the ending inventory on March 31 and April 30 using the FIFO method. Determine cost of goods sold for March and April. (0.5 marks). c. What are relationships between the cost of goods sold and net income as well as between the cost of goods sold and the ending inventory? (0.5 marks)