You have been hired as a managerial accountant by Mr. Smith of Wilson-West Manufacturing a start-up company that produces several different product lines. He would like you to set up the cost accounting system for the cabinet division. Listed below are your new job requirements and at least 1 task for each.Compile a 23 page document (10001500 words) with all of the following task requirements:Assignment 2Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.Key Assignment DraftBrian Miller is an entrepreneur. He started a small-town friendly grocery store. People stopped by his store to pick up things they did not want to run to the regular grocery store for. In 3 years because of popular demand he started adding more items on his shelf and pretty soon he had grown into a regular grocery store. People loved his store because he knew everyone by their first name and would try to fulfill everyone s requests. He now needs some help with his inventory. He hired a CPA firm that would give him some advice on how he should maintain his inventory.You are his CPA. You want to give Brian an overview on the inventory system some different methods of recording cost of goods sold and educate him on the accounting side of recording inventory and recording cost of goods sold.Part 1Beginning inventoryJan 1: 400 units @ $10 eachPurchasesJan 10: 300 units @$12 eachJan 15: 200 units @$15 eachSalesJan 5: 200 units @ $15 eachJan 12: 200 units @ $20 eachJan 18: 100 units @ $25 eachEnding inventoryJan 31: 400 units