QUESTION 3-(20 marks) The inventory records of Sports Equipment Limited revealed the following of one of its most popular types of basketballs for June 2016. Date Description Quantity June 1 June 9 Opening inventory June 15 Sale #1 June 18 June 26 Purchase #1 Purchase #2 Sale #2 Required (Units) 400 Unit Cost $ 10 600 $12 (700) 900 (500) $15 a) Calculate the dollar amount of ending inventory and cost of goods sold under each of the following cost flow assumptions: i) Moving-average cost, perpetual inventory ii) FIFO, perpetual inventory iii) Weighted-average cost, periodic inventory iv) LIFO, periodic inventory (6 marks) (4 marks) (3 marks) (4 marks) b) List three (3) pieces of information that should be disclosed about inventories in the notes to the financial statements. (3 marks)