Question 3 Bears Books had the following balances and transactions during 2020: Beginning Merchandise Inventory as of January 1 15 units at $81 March 10 Sold 6 units June 10 Purchased 27 units at $85 October 30 Sold 21 units What would be reported as Ending Inventory on the income statement for the year ending December 31 if the perpetual inventory system and the first-in, first-out (FIFO) inventory costing method are Question 4 Bears Books had the following balances and transactions during 2020: Beginning Merchandise Inventory as of January 1 March 10 June 10 October 30 15 units at $81 Sold 6 units Purchased 27 units at $85 Sold 21 units What would be reported as Cost of Goods Sold on the income statement for the year ending December 31 if the perpetual inventory system and the first-in, first-out (FIFO) inventory costing metoda