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Assume the following data for Keira Shoes for the month of May 2021: Date Units /unit cost Total cost 1 May 2021 5 May 2021 10 May 2021 30 May 2021 Description Beginning balance Purchase Purchase Purchase 100 units @ $40 150 units @ $42 50 units @ $43 100 units @ $44 $4,000 6,300 2,150 4,400 $16,850 400 units units/ S.P. Sales 8 May 2021 15 May 2021 80 @ $120 110 @ 120 Sales 190 units S. P.:Selling price Required: Round up answers to the nearest cent (2 decimal places). Assume periodic inventory system for both requirements. 1. 1a. 1b. If Keira Shoes uses a periodic inventory system, for each of (i) Average cost and (ii) First-in, First-out (FIFO) methods, calculate: the ending inventory cost, cost of sales (COS) and gross profit (GP). 1c. (4 marks) 1. 1a. 1b. 1c. If Keira Shoes uses a periodic inventory system, for each of (i) Average cost and (ii) First-in, First-out (FIFO) methods, calculate: the ending inventory cost, cost of sales (COS) and gross profit (GP). (4 marks) 2. If the net realisable value of ending inventory per unit is $42.50, how will it change your calculations for each of the cost methods in Requirement (1). If no change indicate no change. If there is a change for the method, show or recalculate: the ending inventory cost, cost of sales (COS) and gross profit (GP). 2a. 2b. 2c. (4 marks)

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