Question 6 In chronological order, the inventory, purchase, and sales of a single product for a recent month are as follows: Units $/unit October 1 Beginning Inventory 150 20 4 Purchase 400 30 12 Purchase 800 32 16 Sale 1,300 50 24 Purchase 400 42 31 Ending Inventory 450 Instructions (1) Using FIFO method, compute the cost of ending inventory, cost of goods sold, and gross margin. (2) Using the average-cost method, compute the cost of ending inventory, cost of goods sold, and gross margin.