Home Tools Accou. (2) - 7th E... X Subscribe A P Q 2 12 0 119% E PA Question (2): (12 marks): Gerald Company uses a perpetual inventory system. The company has the same inventory, purchase, and sales data for the month of March as follows: bu PO March 1 Beginning inventory 10 Purchase 15 Sales 20 Purchase 25 Sales 30 Purchase 200 units @ $4 400 units @ $4.5 500 units 400 units @ $4.75 450 units 300 units @ $5 The physical inventory count on March 31 shows 350 units on hand. Required: 0 Under Both Perpetual & Periodic inventory system, determine the cost assigned to ending inventory and cost of goods sold using: First-in, First-out (FIFO) method. Last-in, First-out (LIFO) method