The following information is taken from the accounting records of Golden Ltd for the year ended 31 December 2019. Golden Ltd uses a perpetual inventory system. Units Purchase price per unit Selling...

The following information is taken from the accounting records of Golden Ltd for the year ended 31 December 2019. Golden Ltd uses a perpetual inventory system. Units Purchase price per unit Selling price per unit January 1 Opening inventory 2 000 $56 March 10 Purchases 2 200 $55 June 25 Sales 1 800 $60 August 30 Purchases 1 800 $52 October 5 Sales 2 500 $65 November 26 Purchases 3 000 $50 December 31 Sales 2 000 $63 Determine the cost of ending inventory as at 31 December 2019 and the cost of goods sold and gross profit for the year ended 31 December 2019 assuming: 1 FIFO 2 LIFO.