WileyPLUS e-commerce Grammarly Apps Pearson Sign In Question 2: (15 marks) The following information relates to the inventories of Melur Bhd for the year ended 31 December 2020. Assume that Melur Bhd uses periodic inventory system in measuring its inventories. For 2020, the accounting records showed the following data: an Item Units Total (RM) Beginning inventories 10,000 22,800 Net sales 225,000 865,000 Operating expenses 147,000 Purchases Record Quarter Units Cost Per Unit (RM) Total Cost (RM) 1 60,000 2.30 138,000 2 50,000 2.50 125,000 3 50,000 2.60 130,000 4 70,000 2.65 185,500 Total 230,000 578,500 Required: a) Calculate the unit of ending inventory, cost of ending inventory and the cost of goods sold for the year ended 31 WOU TO Total 230,000 578,500 Required: a) Calculate the unit of ending inventory, cost of ending inventory and the cost of goods sold for the year ended 31 December 2020 if Melur Bhd uses: the FIFO cost flow assumption (m) the weighted average cost flow assumption Show all workings. (6 marks) b) Calculate the gross profit if Melur Bhd uses: o the FIFO cost flow assumption (m the weighted average cost flow assumption Show all workings. (2 marks) c) If the company's income tax rate is 24%, calculate the income tax expense under FIFO and weighted average cost methods. Show all workings. (4 marks) d) in penod of inflation, what are the () financial statement effects and a tax effects; for both FIFO and weighted average cost methods? Bmarks) 00 ENG 307 25/40