1. ABC Corporation's May 2019 merchandise transactions are summarized in the table below: Date May 1 May 5 May 8 May 17 May 25 May 28 Transaction Beginning Inventory Purchase Sale Purchase Sale Purchase Quantity 100 300 350 450 400 400 Unit Price $8 10 15 12 20 13 Total $800 3,000 5,250 5,400 8,000 5,200 Required: I a) Calculate the cost of the goods sold for each sale and calculate the cost of the ending inventory using FIFO, LIFO and weighted average methods and journalize the purchase and sale transactions using the perpetual inventory system. b) Calculate the cost of the goods sold for May and calculate the cost of the ending inventory using FIFO, LIFO and weighted average methods and journalize the purchase and sale transactions using the periodic inventory system