QUESTION 2. (40 POINTS) Beta Company had a beginning inventory of 20 units at a cost of $3 per unit. Below you will find information related to purchases and sales for the month of September 2020. PURCHASES Date Description Units Sep. 10 Purchased 90 20 Purchased 20 Unit cost 5 SALES Date Description Units Unit price Sep. 3 Sold 10 10 15 Sold 40 10 28 Sold 50 10 6 Required: a) Assuming the company uses the Average cost flow assumption and a periodic inventory system determine the following: (15 points) Show value here Show calculations here Beginning Inventory Purchases Cost of Goods Available for Sale I111 Ending Inventory COGS ACT 410- Intermediate Accounting /- Summer 2020-11 Page 36 Final Week Assessment (20%) b) Assuming the company uses the Average cost flow assumption and a perpetual inventory system calculate Ending Inventory and COGS using the table below (or you can use the space after the table) (15 points) PURCHASES SALES DATE BALANCE (INVENTORY) Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost 1 10 15 20 28 Ending Inventory = COGS = c) Compare the results from questions (a) and (b) and explain the differences if any. (10 points)