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QUESTION 5 (12 marks) A review of the Double Rainbow Corporation shows the following purchases and sales: Jan 1 Beginning inventory 25 units at $ 8.00 $200 March 3 Purchases 50 units at $ 9.50 $475 April 7 Sales 55 units at $19.00 Aug. 21 Purchases 30 units at $11.00 $330 Oct. 3 Purchases 15 units at $10.00 $150 Dec 15 Sales 32 units at $18.00 REQUIRED: Calculate the following. Show all calculations to receive full marks. i. Calculate the number of units in ending inventory. (3 marks) Answer: ii. Calculate FIFO total $ in ending inventory based on the perpetual method (3 marks) Answer: $ iii. Moving weighted average total ending inventory based on the perpetual method (3 marks) (round moving weighted average cost to 2 decimal places. Round final answer to nearest dollar) ACCT 1110-001 FINAL FALL 2021 6 Answer: $ iv. Using FIFO based on the perpetual method, calculate the total gross profit. (3 marks) Answer:$