2. Beta Merchandising Company purchases mobiles directly from manufacturers and sells it to small retailers. The following transactions occurred during 2020:March, 21st: 80 mobiles on hand @ RO 40...

2. Beta Merchandising Company purchases mobiles directly from manufacturers and sells it to small retailers. The following transactions occurred during 2020: March, 21st: 80 mobiles on hand @ RO 40 each. May, 14th: 120 mobiles purchased @ RO 50 each. July, 10th: 80 mobiles purchased @ RO 60 each. September 16th: 50 mobiles purchased @ 80 each Alpha merchandising sold 300 mobiles during 2020 Required: Compute the Cost of Inventory sold during 2020 and the value of closing inventory under the following cost inventory methods. (a). First in, first out (FIFO) (b). Last in, first out (LIFO) (c) Average cost method