You are the vice president of finance of Sunland Corporation, a retail company that prepared two different schedules of gross margin for the first fiscal quarter ended July 31, 2025. These schedules appear below. The computation of cost of goods sold in each schedule is based on the following data: Karen White, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice president of finance you have explained to Ms. White that the two schedules are based on different assumptions concerning the flow of inventory costs, i.e. FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this Karen White, the president of the corporation, cannot understand how two different gross margins can be computed from the same set of data. As the vice president of finance you have explained to Ms. White that the two schedules are based on different assumptions concerning the flow of inventory costs, i.e. FIFO and LIFO. Schedules 1 and 2 were not necessarily prepared in this sequence of cost flow assumptions. Prepare two separate schedules computing cost of goods jiold and supporting schedules showing the composition of the ending inventory under both cost flow assumptions (assume periodic system). Schedules Computing Ending Inventory (Enter per unit costs to 2 decimal places, esg. 15.25.) Schedules Computing Ending Inventory. (Enter per unit costs to 2 decimal places, e.g. 15.25.)