sumber Current Attempt in Progress You are the vice president of finance of Splish Corporation, a retail company that prepared two different schedules of gross margin for the first quarter ended March 31,2020. These schedules appear below. Sales ($5 per unit) Cost of Goods Sold Gross Margin Schedule 1 $150,200 $135,268 $14,932 Schedule 2 150,200 141,600 8,600 The computation of cost of goods sold in each schedule is based on the following data Cost Total Units per Unit Cost 11.200 $4,40 $49,280 Beginning inventory, January 1 9.200 4.50 41,400 Purchase, January 10 7,200 4.60 33,120 Purchase, January 30 10.200 4.70 47,940 Purchase, February 11 12.200 4.80 58.560 Purchase, March 17 Kimberly Young, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice president of finance, you have explained to Ms. Young that the two schedules are based on different assumptions concerning the flow of inventory costs, le., FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assumptions. Prepare two separate schedules computing cost of goods sold and supporting schedules showing the composition of the ending inventory under both cost flow assumptions Splish Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 Schedule 2 First-in, First-out Last-in First-out D Schedules Computing Ending Inventory D eTextbook and Media First-in, First-out (Schedule 1) Last-in, First-out (Schedule 2) at $ at 5 at $ $ Attempts: 0 of 5 used