Watson Pty Ltd, perpetual inventory system, determing ending inventory using different methods.

Watson Pty Ltd began operations on 1 July. It uses a perpetual inventory system. During July the business had the following purchases and sales: Purchases Date Units Unit cost Sales units July 1 S $ 90 6 3 11 4 $ 99 14 3 21 3 $106 27 4 Required: (a) Use an EXCEL spreadsheet to reproduce the above table and determine the ending inventory under a perpetual inventory system using (I) FIFO and (2) average cost (It is advisable to prepare a separate table for each method.) (b) Explain which costing method produces the highest cost allocation to ending inventory and what difference each method would make to the prot reported by Watson Pty. Ltd.'?I Commentary should be brief (approx 75-100 words)