QUESTION 4 Cottonside Berhad is identifying the best method to manage its inventory for the coming year. The following information reflects the inventory records of Cottonside Berhad during the fourth quarter of 2018: Purchases Sales Quantity RM/Unit Quantity RM/Unit October 1 180 28 130 32 November, 1 160 36 120 40 December, 1 42 180 48 a) Using FIFO, LIFO and average cost method, determine the company's: 1) cost of goods sold ) gross profit margin i) value of ending inventory (9 marks) b) Justify the method that Cottonside Berhad should adopt for its inventory management (1 mark) 220