Question 3: Gerald D. Englehart Company has the following inventory, purchases, and sales data for the month of March. Inventory: March 1 200 units @ 4.00 800 Purchases: March 10 500 units @ 4.50 2,250 March 20 400 units @ 4.75 1,900 March 30 300 units @ 5.00 1,500 Sales: March 15 500 units March 25 400 units The physical inventory count on March 31 shows 500 units on hand. Instructions Under a periodic inventory system, determine the cost of inventory on hand at March 31 and the cost of goods sold for March under (a) FIFO and (b) average-cost