Problem 5 (15 Points) LO2 & L05 a. Explain why the inventory costing method affects the financial reporting numbers! (5 Points) b. Indofood Company sells many products. Indomie is one of its popular items. Below is an analysis of the inventory purchases and sales of Indomie for the month of March. Indofood Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $40 3/3 Purchase 60 $50 3/4 Sales $80 3/10 Purchase 200 $55 3/16 Sales 80 $90 3/19 Sales 60 $90 3/25 Sales 70 $90 3/30 Purchase 40 $60 70 Instructions: 1b. Using the FIFO assumption, calculate the amount charged to cost of goods sold for March 2021 and please show your computation and explain the result! (5 Points) 2b. Using the weighted average method, calculate the amount assigned to the inventory on hand on March 31, 2021 and please show your computation and explain the result! (5 Points)