The following are the information pertaining to inventory for Sunset Incorporation for the month ended 31 August 2019. The company uses periodic inventory system. Date Description Quantity Unit Cost Selling price Aug Beginning inventory 100 $15 5Purchase 140 18 1 15 Purchase 50 20 25 Purchase 20 22 During the current month the company has sold 190 units of inventory. REQUIRED: (a) Determine the cost of goods available for sale. (b) For each cost flow assumptions, calculate (i) the ending inventory, (ii) the cost of goods sold. FIFO (2) Average cost (c) Compare results for the two cost flow assumptions. hp The following are the information pertaining to inventory for Sunset Incorporation for the month ended 31 August 2019. The company uses periodic inventory system. Date Description Quantity Unit Cost Selling price Aug 1 Beginning inventory 100 $15 5 Purchase 140 18 15 Purchase 50 20 22 20 25 Purchase During the current month, the company has sold 190 units of inventory. REQUIRED: (a) Determine the cost of goods available for sale. (b) For each cost flow assumptions, calculate (i) the ending inventory, (ii) the cost of goods sold. (1) FIFO (2) Average cost (c) Compare results for the two cost flow assumptions. hp