The College Store Inc. inventory records showed the following data relative to a particular item sold regularly (transactions occurred in the order given): Transaction Units Unit Cost 1. Beginning inventory 3,000 $5.00 2. Purchase 27,000 5.20 3. Sales (at $13 per unit) -10,500 4. Purchase 9,000 5.50 5. Sales (at $13.50 per -24,000 unit) 6. Purchase 4,500 6.00 7. Ending inventory 9.000 Required: 1. Complete the following schedule (round unit costs to nearest cent and total cost of inventory and cost of goods sold to the nearest $1) -- 6 marks: $ Ending Inventory Cost of Goods Sold Gross Margin Inventory Method a. FIFO (Periodic) b. Weighted Average (Periodie) 2. Which method (FIFO or Weighted Average__will maximize the net income of the company? Briefly explain. (1.5 marks) 3. Which method (FIFO or Weighted Average) will maximize the current ratio of the company? Explain. (1.5 marks)