The following information relates to the inventory of Margaret Pty Ltd during December. Margaret Pty Ltd uses the periodic inventory system. During the month, 1300 units were sold for exist5525. A physical count on 31 December verified that 700 units were on hand. Ignore GST. Required A. Calculate cost of sales and ending inventory on 31 December by using each of the following costing methods: Specific identification, assuming that 300 units were sold from the beginning inventory, 500 units were sold from the first purchase, 200 units were sold from the 15 December purchase, and the remainder from the 23 December purchase. FIFO LIFO Weighted average. B. Which cost flow method(s) resulted in the highest gross profit on sales? Explain your