Question 4 (30%) Bean Company reports the following for the month of September. Explanation Units Unit Cost Total Cost Inventory 12 Purchase 23 Purchase 30 Inventory 225 525 750 280 $1,125 3,150 5,250 Sept 1 7 Instructions: (a) Compute the cost of the ending in ventory and the cost of goods sold under (1) FIFO. (2) LIFO, and (3) average cost Why? inventory and cost of goods sold for FIFO and LIFO? (b) Which costing method gives the highest ending inventory? The highest cost of goods sold? (c) How do the average-cost values for ending inventory and cost of goods sold relate to ending Question 5 (25%) The Siloam Clinic purchased a new surgical laser for $84.000. The estimated salvage value is $4,000. The laser has a useful life of five years and the clinic expects to use it 10,000 hours. It was used 1,600 hours in year 1: 2,100 hours in year 2; 2,400 hours in year 3; 1,900 hours in year 4: 2,000 hours in year 5. Instructions: Compute the annual depreciation for each of the five years under each of the following methods: (a) (1) straight-line (2) units-of-activity. (b) If you were the administrator of the clinic, which method would you deem as most appropriate? Justify your answer. Which method would result in the lower reported income in the first year? Which method would result in the lower total reported income over the five-year period? (c)