The beginning inventory of merchandise at Rhodes CO. and data on purchases and sales for a three-month period ending June 30 are a follows: Rhodes co Schedule of Cost of Merchandise Sold FIFOMethod For the three-months ended June 30 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|c|}{ For the three-months ended June 30} \\ \hline+ & \multicolumn{3}{|c|}{ Purchases } & \multicolumn{3}{|c|}{ Cost of Merchandise Sold } & \multicolumn{3}{|c|}{ Inventery } \\ \hline Date & Quantity & Unit Cost & Total Cost & Quantity & Unit Cest & Total Cost & Quantity & Unit Cost & Total Cost \\ \hline Lpt. 3 & & & & & & & & 1 & s \\ \hline Ape : & & 2 & & & & & & & \\ \hline & & & & & s. & s. & & & \\ \hline Aqe. 11 & & & & & & & & & \\ \hline Aves 30 & & & & & & & & & \\ \hline Hors & & & & & 4 & & & & \\ \hline Mar to & & & & & & & & & \\ \hline & & & & & & & & & \\ \hline Mer is & & & & & & & & & \\ \hline \end{tabular} Determine the total sales and the fotal cost of merchandise sold for the period. Jeurnaize the entries in the saies and cost of merchandise sold acceunts. Astume that all sales on account. If an amount box does not require an entry, leave it biank. 3. Determine the gross profit from sales for the period. 4. Determine the ending inventory cost as of June 30. 5. Based upon the preceding data, would you expect the inventory using the last-in, first-out method to be higher or lower