Question 4_10 marks (Record your answers directly below the question. Big Boy Company began September, 2020 with 60 units (of inventory X) that cost $24 each. During the month Big Boy made the following purchases of inventory item X at cost: Sept 3 Sept 18 Sept 23 100 units @ $25.60 240 units @ $25.00 40 units @ $30.25 Big Boy sold 300 units (230 units on Sept 22 and 70 units on Sept 30), and at September 30 the ending inventory consists of 100 units. The sale price of each unit was $60. Required 1. Determine the cost of goods sold and ending inventory amounts under (a) weighted average cost under the periodic system, and (6) FIFO cost assuming the perpetual system is used Round weighted average cost per unit to two decimal places, and round all other amounts to the nearest dollar 2. Prepare 's income statement in good form for Sept 2020 Report gross profit. Operating expenses totalled $1 700. The company uses FIFO costing for inventory. The income tax rate is 10%