Question 6 The following table shows the flow of inventory in chronological order. October 1 Beginning Inventory 4 Purchase 12 Purchase 16 Sale 24 Purchase 31 Ending Inventory Instructions Units $/unit 150 20 400 30 800 32 1,300 50* 400 42 450 * *Selling price (1) Assume the company follows a perpetual system. Using FIFO method, compute the cost of goods sold, the value of ending inventory and gross margin. (2) Assume the company follows a perpetual system. Using the average-cost method, compute the cost of goods sold, the value of ending inventory and gross margi.