Required: a) At the end of March, compute the cost of goods sold and closing inventory (in unit and cost). b) Prepare journal entries for the following transactions under perpetual inventory system: - 02/03/2021 - 18/03/2021 c) Prepare an extract of the Statement of Profit or Loss and Comprehensive Income, showing clearly the gross profit at the end of March. d) Upon conducting a physical stock take, the remaining inventory in hand is 130 units only. Using the same information as above, compute the gross profit at the end of March based on a periodic inventory system using weighted average cost method. e) Prepare joumal entries for the following transactions under periodic inventory system: - 02/03/2021 - 18/03/2021 4. All members must participate in the discussion and preparation of the answer. Discussion must be done in English ABC Enterprise uses a perpetual inventory system to monitor the inventory status and using the First-In First-Out (FIFO) method to compute the cost assigned to the cost of goods sold and the closing inventory. The beginning balance of inventory, data on purchases and sales for a month are as follows: Date Activities Units Acquired at Cost Unita Sold at Retail Mar 1 Opening balance 100 units @ RM 2.00 Mar 2 Purchase 500 units @ RM 1.50 Mar 3 Purchase 400 units @ RM 2.50 Mar 10 350 units @ RM 4.50 Mar 18 Sales 450 units @ RM 4.00 Mar 25 Purchase 100 units @ RM 2.20 Mar 26 Sales 250 units @ RM 3.50 Sales Required: a) At the end of March, compute the cost of goods sold and closing inventory (in unit and cost). b) Prepare joumal entries for the following transactions under perpetual inventory system: - 02/03/2021 - 18/03/2021