You receive the following information for Splish Brothers Bags Ltd. Splish Brothers imports and wholesales one type of high-end Italian leather handbag-each bag is identical. Splish Brothers staff carefully code each bag with its purchase cost. Mar. 1 Beginning inventory is 140 handbags at a cost of $502 per bag. 3 Purchased 200 handbags at a cost of $547 each. 5 Sold 170 handbags for $816 each. 10 Purchased 340 handbags at a cost of $579 each. 25 Sold 500 handbags for $848 each. Assuming that Splish Brothers Bags uses specific identification to determine inventory costs, show how Splish Brothers Bags could maximize its gross profit for the month by selecting which handbags to sell on March 5 and March 25. Assuming that Splish Brothers Bags uses the specific identification to determine inventory costs, show how Splish Brothers Bags could minimize its gross profit for the month by selecting which handbags to sell on March 5 and March 25. Question Part Score Who are the stakeholders in this situation? Is there anything unethical in choosing which handbags to sell in a month? Assume that Splish Brothers Bags uses a perpetual inventory system with the average cost formula. How much gross profit would Splish Brothers Bags report? (Round the average unit cost to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,275.) Question Part Score Should Splish Brothers Bags use specific identification or the average cost formula