Accounting for inventory and cost of sales Dora Corporation sells item A as part of its product line. Simplified information about the beginning inventory purchases, and sales for item A for the year 2019 is given in the following table. Dora Corporation uses a perpetual inventory system and the weighted-average cost method. Purchases Number of Unit Cost Units Sales Number of Sales Price Units Date 5,000 $1.40 5,000 $1.60 January 1 (beginning inventory) (a) March 5 (b) June 21 (c) September 30 (d) December 17 8,000 $4.50 2,500 $2.00 2,500 $4,80 Required (show your calculations) Required (show your calculations) a. Compute the cost of ending inventory, the cost of sales, and the gross profit percentage for 2019. Round your answers to the second decimal. The weighted average cost per unit after the purchase of March 5 was already calculated as $1.50. (7 marks) b. Prepare journal entries to record transaction (d), assuming that sales are made on account. (3 marks) c. Calculate the inventory turnover ratio and interpret your result (2 marks) d. Would the gross profit be higher lower or the same it Dora Corporation used a periodic inventory system and the First-in First-out (FIFO) method instead of a perpetual inventory system and the weighted average cost method? Explain Calculations are not required. (2 marks) e. Assume that the personnel in charge of the physical inventory count at year end counted 2,500 units of item Aby mistake instead of the quantity that you calculated in requirement 2. How will this error affect the cost of sales, Income tax expense for the year 2019? Show the amount of the understatement or overstatement for these two items. Assume that the company is subject to an income tax rate of 30 percent