UOLIUR) (46 marks) Question 3 (28 marks) The XYZ Company completed the following perpetual inventory transactions: May 1 Beginning inventory 20 units @ $61 each May 11 purchase 6 units @ $ 76 each May 23 sale 16 units @ $ 89 each May 26 purchase 14 units @ $ 86 each May 29 sale 17 units @ $ 89 each Requirements 1. Calculate cost of goods sold, Cost of ending inventory, and gross profit using LIFO. (20 marks) 2. During periods of rising prices, which method (FIFO-LIFO-AVCO) results in the highest gross profit? Why? (4 marks) (4 marks) 3. Which method would be more consistent with the matching principle? Why