Use the following information for the next three questions: (Question 1 of 3) Mo Company uses a periodic inventory system. Mo sold 420 suits in 2019 for $500 each. Other data for 2019 includes: Merchandise inventory and purchases: (suits inventory) DATE ITEM SUITS UNITS PRICE TOTAL Jan. 1 Beginning Inventory 300 $70.00 Mar 6 Purchase 200 $80.00 Aug. 11 Purchase $90.00 300 100 $21,000 $16,000 $27,000 $10.00 $74,000 Oct 23 Purchase $10.00 TOTAL AVAILABLE 900 Cost of Goods Sold under the FIFO method is: A $30,000 B. $35.400 c none of the above D. $38,600 E $43,400 Mo Company uses a periodic inventory system. Mo sold 420 suits in 2019 for $500 each. Other data for 2019 includes: Merchandise inventory and purchases: (suits inventory) DATE ITEM SUITS UNITS PRICE TOTAL Jan. 1 Beginning Inventory 300 $70.00 $21.000 Mar 6 Purchase $0.00 $16.000 Aug. 11 Purchase $90.00 $27.000 Oct. 23 Purchase $10.00 $10.000 TOTAL AVAILABLE 900 $74,000 Ending Inventory under the LIFO method is: A $43,400 B.$35.400 c. $30,000 $38.600 E none of the above Mo Company uses a periodic inventory system. Mo sold 420 suits in 2019 for $500 each. Other data for 2019 includes: Merchandise inventory and purchases: (suits inventory) DATE ITEM SUITS UNITS PRICE TOTAL Jan. 1 Beginning Inventory 300 $70,00 $21,000 Mar 6 Purchase $80.00 $16.00 Aug. 11 Purchase 390.00 $27,000 Oct. 23 Purchase $10.00 $10.000 TOTAL AVAILABLE 900 $74,000 Gross Margin under the LIFO method is: A $179,400 B. $174,600 C. none of the above, D. $171,400 E $166,600