Date Question 8 (7 points) The following are the inventory purchase and sales transactions of Abel Corporation. They use a perpetual inventory system. Units Cost/unit Price/unit Jan 1 Balance 30 $20 Jan 5 Purchase 20 $21 Jan 8 Sale 35 $40 Jan 15 Purchase 45 $22 Jan 25 Sale 40 $42 REQUIRED: Use the above information to answer the following questions. Please feel free to utilize the templates provided. The templates are not worth marks, but are provided for your assistance. a. What is the total ending inventory in units regardless of the inventory valuation method? b. What is the total ending inventory cost (S) for January 31 that would appear on Abel's Statement of Financial Position using the FIFO method? c. What is the Cost of Goods Sold ($) for the January 8 sale using the FIFO method d. What is the gross profit (S) for the January 8 sale using the FIFO method? e What is the total ending inventory.cost for January 31 that would appear FS F6 F7 F9 F8 GID F10 F11 F12 End Home Sys % A & 7 8 4 5 9 6 7 8 9 R. T