You are the vice president of finance of Windsor Corporation, a retail company that prepared two different schedules of gross margin for the first quarter ended March 31, 2020. These schedules appear below. Schedule 1 Schedule 2 Sales Cost of Gross ($5 per unit) Goods Sold Margin $ 142,700 $125,844 $16,856 142,700 131,516 11,184 The computation of cost of goods sold in each schedule is based on the following data. Beginning inventory, January 1 Purchase, January 10 Purchase, January 30 Purchase, February 11 Purchase, March 17 Units 10,400 8,400 6,400 9,400 11,400 Cost Total per Unit Cost $4.30 $44,720 4.40 36,960 4.50 28,800 4.60 43,240 4.70 53,580 Susan Wilson, 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. Wilson 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 sold and supporting schedules showing the composition of the ending inventory under both cost flow assumptions. Windsor Corporation Schedules of Cost of Goods Sold For the First Quarter Ended March 31, 2020 Schedule 1 First-in, First-out Schedule 2 Last-in, First-out $ $ Schedules Computing Ending Inventory. First-in, First-out (Schedule 1) at $ at $ $ Last-in, First-out (Schedule 2) II at $ $