75% fx v Formula T Text Table Chart Shape Media View Zoom + PROB1 PROB2 PROB3 PROBLEM: 5 20 POINTS THE FOLLOWING INFORMATION PERTAINS TO MODEL A-4 DIGITAL WATCHES OF THE TIME CORPORATION FOR THE MONTH OF OCTOBER, 2020 DATE CALCULATORS UNITS UNIT COST UNITS SELLING PRICE 60.00 62.00 $90.00 OCTOBER 1 BEGINNING INVEN 7 PURCHASE 12 SALE 17 PURCHASE 19 PURCHASE 20 SALE 21 PURCHASE 22 PURCHASE 28 SALE 100 $ 400 300 500 300 600 500 600 1,000 64.00 65.00 95.00 66.00 67.00 100.00 INSTRUCTIONS: 1.ASSUMING THAT THE COMPANY USES PERPETUAL INVENTORY SYSTEM, CALCULATE THE COST OF THE ENDING INVENTORY AND COST OF GOODS SOLD USING THE FOLLWING METHOD: A. FIFO B. LIFO 2.ASSUMING THAT THE COMPANY USES PERIODIC INVENTORY SYSTEM, CALCULATE THE COST OF THE ENDING INVENTORY AND COST OF GOODS SOLD USING THE FOLLWING METHOD: A. FIFO B. LIFO C. AVERAGE METHOD