Question 4 (19 marks, 34 minutes) Captain Awesome Medical Equipment Ltd. is a distributor of medical equipment that uses the average cost perpetual inventory method to record its inventory. On June 1 they had 3 imaging machines in inventory, which cost $15,600 per unit. Details of purchases and sales for this specific machine for the month of June 2020 are shown below: Date Transaction Units Cost per unit Selling Price/unit Jun 3 Purchase 8 $15,825 Jun 11 Sale 4 $26,000 June 13 Purchase 5 $15,975 June 25 Sale 7 $26,650 Note: All sales and purchases are made on account. Round your calculations to the dollar. Required: Part A Based on the average cost method, calculate the ending Inventory (in units and dollars) and the Cost of Goods Sold on June 30, 2020. Enter your results below the table. Date Purchases Cost of Goods Sold Inventory Marks Inventory at June 30 Cost of Goods Sold at June 30 Part B Prepare the required journal entry(ies), for the dates indicated below: Date Account Name Debit Credit Marks June 13 June 25 Part C Assume that the company uses FIFO costing instead of Weighted Average. Calculate the cost of Goods Sold for June 11. Date Purchases Cost of Goods Sold Inventory Marks Part D Which method (average cost or FIFO) would provide the lower net income. Explain your answer. No calculations are required