Question 45 (2 points) Sports Inc. uses the FIFO cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round your final answer to the nearest cent) Jun 1 Jun 5 Jun 8 Jun 9 Jun 10 Jun 22 Beginning inventory Purchase Sale Purchase Sale Sale 20 units @ $19.00 per unit 100 units @ $22.00 per unit 70 units 80 units @ 22.31 per unit 25 units 40 units If Sports Inc. was using the average cost formula instead of FIFO, gross profit from the June 8 sale would be higher. the same. Olower. O cannot be determined. none of the above. Question 46 (2 points) Desmarais Corporation uses the periodic inventory system and had the following inventory information available for 2019: Units Unit Cost Total Cost Jan 1 Beginning inventory $4.00 $ 60 20 Purchase 4.40 25 Purchase 4.20 126 Oct 20 Purchase 4.80 $666 264 Jul 216 A physical inventory count on December 31 showed that there were 50 units on hand. Assume that the company uses average cost. The value of ending inventory as at December 31, 2019 is (Use unrounded numbers in your calculations but round your final answer to the nearest cent.) 0 $444.00 O $222.00 O $210.00 O $240.00 ( None of the above