WeDown Lid, la datributor of commercial grade wheelbarrows to local greenhouse. The company is a perpetual Inventory wytem They calculate inventory values by applying vrage cool and reports under ASPE Wheels Down L. ad 200 units at $70 each in its inventory on March 31, 2021. Details of purchases and sales for the month of Apr 2001 are shown below Date Units Unit Cost Seling Price April 5 Purchase 200 575 April 12 Sale 360 $140 April 18 Purchase 300 $80 Apni 27 Sale 310 $140 Note: All sales and purchases are made on account. Round all calculations to two decimals Required: 1. Calculate the ending inventory in it and dollars) and the total cost of goods sold for the month of April 2021. Show all calculations. (marks 2. Prepare the required journal entries for the sale on April 12. marks) 3. When the physical count was completed on April 30, 2021, there were only 29 wheelbarrows on hand in the warehouse Record the entry, it any, the company should prepare record 4 the company used First in First Out (FFO) instead of average cost, would the April 2021 total cost of Goods Sold be higher or lower? Explain. No calculations are necessary 1 turk 3. Which method (Average cost or FIFO) would result in a higher gross profit for the month of April 20212 Calculations are not required.) (1 mark) 6. What is one guideline that Wheels Down Ltd, should consider when deciding between Average cost and FIFO for its inventory formula? (1 mark)