Q.no.3. The Cyber Company uses a perpetual inventory system. The beginning balance of inventory and purchases made by the company during the month of July 2019 are given below: Marks 10 - July 01: Beginning Inventory, 500 units @ $20 per unit - July-18: Inventory purchased, 800 units@ \$24 per unit. - July 25: Inventory purchased,700 units@\$26 per unit. The Cyber company sold 1,400 units during the month of July. Required: Compute inventory on July 31,2019 . And Cost of Goods Sold for the month of July using the following inventory methods. 1. FIFO 2. Average cost method