Question 2 Forever Trading uses a perpetual inventory system. It reports the following information for its product X for the month of August. Date Aug. 1 Activities Beginning inventory of 50 units at $100.00 per unit. Aug. 10 Purchased 80 units at $110.00 per unit. Aug. 20 Sold 40 units at $200.00 per unit. Aug. 24 Sold 80 units at $220.00 per unit. Aug. 30 Purchased 100 units at $115.00 per unit. Required: Present the cost assigned to ending inventory and to the cost of goods sold using: (a) FIFO. (b) Weighted average cost. Workings must show the inventory movements and balance for each transaction. Round per unit cost to three decimal points and total cost to the nearest $ for the weighted average method. (30 marks)