Question No 2. (Marks 5) The inventory records for a Co. reflected the following Beginning inventory 100 units @ $4.00 First Purchase May7 300 units@ $4.40 Second Purchase May 17 400 units@ $4.60 Third Purchase May 23 150 units@ $4,80 During the year Co. sold 850 units @ $7.80 a. Determine the amount of cost of goods sold assuming the LIFO cost flow method. [2] b. Determine the amount of gross margin assuming the LIFO method. [2.5) c. Determine the amount of gross margin assuming weighted average method. [2.5] Question No 3. (Marks 5) a. Why cash Discount is offered and how it is calculated, explain by giving proper example. [2.5) b. Explain how the terms of trade effect the transportation accounting in general journal. [2.5) **Please give proper referencing