Use the following information to answer the questions relating to Mugudia: Mugudia and Daughters Company is a wholesale seed distributor. The records reflected the following for January Year 1. All purchases and sales were made in cash. Beginning Inventory Purchase January 6th Sale - January 10th Purchase - January 14th Sale January 29th 100 units (purchased for $1.00 each) 200 units (purchased for $1.20 each) 110 units (sold for $2.40 each) 100 units (purchased for $1.30 each) 170 units (sold for $2.60 each) Question 3 1 pts Calculate January Year 1 cost of goods sold for Mugudia, assuming that Mugudia uses the FIFO cost flow assumption and a periodic inventory system. 316 Question 4 1 pts Calculate January Year 1 gross profit assuming that Mugudia uses the LIFO cost flow assumption and a periodic inventory system. 360 Question 5 1 pts Assuming that Mugudia uses the LIFO cost flow assumption, what would be the amount of the LIFO Reserve? D Question 6 1 pts Assume that the listed purchases and sales for Mugudia are the only purchases and sales that Mugudia makes during the period. Would Mugudia have a higher gross profit using LIFO or FIFO? FIFO Question 7 1 pts Calculate January Year 1 cost of goods sold for Mugudia, assuming that Mugudia uses the periodic inventory system and an weighted-average cost flow assumption.