Question 3 (1.5 marks) 1. Binh nh's inventory, purchases, and sales for March and April follow. The company closes its books at the end of each month. It uses the perpetual inventory system. March Beginning Inventory 160 Units at $49 100 Units at $52 Ending Inventory 86 Units 1 10 Purchase 31 April 4 Purchase 15 Purchase 120 Units at $53 50 Units at $54 200 Units 23 Sale 25 Purchase 100 Units $55 30 Ending inventory ??? Required: a. Compute the cost of the ending inventory on March 31 and April 30 using the average-cost method. In addition, determine cost of goods sold for March and April. (Round unit costs to the nearest cent.) (0.5 marks) b. Compute the cost of the ending inventory on March 31 and April 30 using the FIFO method. Determine cost of goods sold for March and April. (0.5 marks). c. What are relationships between the cost of goods sold and net income as well as between the cost of goods sold and the ending inventory? (0.5 marks)