Section C - Answer Two questions only (2x 12.5 mark= 25 marks) 1- Nizwa Company sells one product. Presented below is information for January for Nizwa Company. Jan. 1 Inventory 90 units at OMR 6 each 4 Sale 70 units at OMR 8 each 11 Purchase 140 units at OMR 6 each 13 Sale 110 units at OMR 8 each Purchase 170 units at OMR 7 each 27 Sale 90 units at OMR 9 each 20 Nizwa uses the FIFO cost flow assumption. All purchases and sales are on account. Instructions Assume Chippewas uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry, to record cost of goods sold