Problem 1. Inventory Cost Flows. 35 points (10 points for each inventory cost flow response; 5 points for the answer to the question about the manager). Please answer the questions below. Please show ALL work for EVERY transaction. Stan's Wholesale buys canned tomatoes from canneries and sells them to retail markets. Stan's uses the perpetual inventory method so management has the advantage of always having current knowledge of inventory levels. During August 2017, Stan's inventory records showed the following: Unit Price $10.50 Cases 4,100 950 1,000 1,450 1,700 August 1 August 9 August 13 August 19 August 26 August 30 Beginning Inventory Sale Purchase Sale $19.95 $11.00 $19,95 $11.50 $19.95 Purchase Sale 1,900 Required: Calculate the cost of goods sold for the month of August and the ending inventory on August 31 using the following cost flow alternatives: LIFO, FIFO, and Weighted Average. Calculate unit costs to the nearest cent. Also, please answer the following question: If I was a manager and my bonus was given based on net income, which inventory method would I like the company to use and why? LIFO COST FLOW Date Inventory Balance Purchases Cost of Goods Sold Units Units Units Cost per Unit Total Cost per Unit Total Cost per Unit Total 3