Question 3 Not yet answered Inventory records City Company uses a perpetual inventory system and has the following transactions for March: Date Description Units Cost/price March 1 Beginning inventory 180 $20.00 Not graded P Flag question March 5 Purchase 60 21.00 March 8 Sale 200 40.00 March 14 Purchase 90 22.00 March 25 Purchase 50 23.00 March 28 Sale 140 40.00 Required: a) Prepare inventory records using: i. FIFO method ii. LIFO method iii. Weighted average method b) Calculate Sales, Cost of Goods Sold and Gross Profit for each method above