Young Company uses the periodic inventory system to account for inventories. Information related to Young Company's inventory at October 31 is given below: October 1 Beginning Inventory 8 Purchase 16 Purchase 24 Purchase 400 units @ $10.00 = 800 units @ $10.40 = 600 units @ $10.80 = 200 units @ $11.60 = $ 4,000 8,3204 6,4804 2,3204 Total units and cost 2,000 units $21,1204 Required: A. Show computations and provide the total value of the ending inventory using the FIFO cost assumption if 600 units remain on hand at October 31. (6 marks) + B. Show computations and provide the gross profit using the FIFO method if 600 units remain on hand at October 31.4 Young Company uses the periodic inventory system to account for inventories. Information related to Young Company's inventory at October 31 is given below: October 1 Beginning Inventory 8 Purchase 16 Purchase 24 Purchase 400 units @ $10.00 = 800 units @ $10.40 = 600 units @ $10.80 = 200 units @ $11.60 = $ 4,000 8,3204 6,4804 2,3204 Total units and cost 2,000 units $21,1204 Required: A. Show computations and provide the total value of the ending inventory using the FIFO cost assumption if 600 units remain on hand at October 31. (6 marks) + B. Show computations and provide the gross profit using the FIFO method if 600 units remain on hand at October 31.4