Case - 4: Ibra Trader uses the perpetual inventory system. All sales returns from customers result in the goods being retured to inventory. Assume that there are no credit transactions and the inventory returned is not damaged. You are provided with the following information of the company for the month of April 2020. Quantity Cost per unit Selling price per unit Date Description (kg) (OMR) (OMR) 150 Beginning inventory 12 April 1 2 Sale 130 20 5 Purchase 6 Sale return of 200 dated sale 30 ? 20 11 Purchase 50 18 Sale 22 23 Purchase 120 28 Sale 110 30 Purchase return of 23 dated purchase 100 13 14 180 ? IS 22 10 Question - 4: a. You are required to calculate units and cost of goods sold; units and cost of ending inventory; and gross profit for each of the following cost flow assumptions. i. FIFO, and (3.5 Marks) ii. WAM (3.5 Marks) b. Explain any three control procedures to be followed over cash receipts