Taylor Ltd.Sell many products. Hoot one of its popular items. Below is an analysis of the inventory purchases and sales of Hoot for the month of March Owl uses the perpetual inventory system Purchases Sales Unit Cost M $40 100 60 190 66 Units Selling Price Unit Beginning inventory 600 3 Purchase Sales 580 10 Purchase 100 16 Sale! 120 19 Sales 120 25 Sales 120 30 Purch 460 275 25 30 Purchase 460 75 Instructions (a) Using the FIFO cost formula, calculate the cost of goods sold for March. Show calculations (b) Using the average cost formula, calculate the ending inventory at March 31. Show calculations and use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer. PLEASE SHOW YOUR WORK. You are to complete the questions above on appropriate separate document(s). Acceptable formats include word document excel documents, documents written by hand scanned and uploaded as a pat or jpeg file or any template you have access to that tulis the question requirements. You will then upload this or drag and drop' the file) into the upload boat the bottom of this question box