QUESTION 3 (1.5 marks) Thinhphat Trading Business supplies you the following information related to its inventory for March, 2020: Unit cost Unit Selling price Quantity (units) 45 $34 ... 75 $42 Date Description 01/3/2020 Opening inventory 07/3/2020 Purchase 12/3/2020 Sale 15/3/2020 Purchase 21/3/2020 Sale 25/3/2020 Purchase 29/3/2020 Sale 31/3/2020 Ending inventory ... 82 $46 . $50 85 55 a Required: 1. Fill the dot (.....) with a reasonable amount for given transactions above. (0.5 marks) 2. Calculate (1) cost of inventory, (ii) cost of sale, (iii) gross profit if FIFO method is used. (0.5 marks) 3. If cost of inventory decreases, which method (FIFO, LIFO, average) do you prefer? Why? (0.5 marks)