1. Following is an inventory moquisition schedule for ABC CO. for 2020 Unit Units Cost Beg. Inventory 500 $ 13 Purchases Feb. 4 300 15 Apr. 12 400 16 200 13 Dee 5 18 During the year, ABC sold 1150 units at $22 cach Sept. 10 100 Compute the cost of goods sold (COGS) and ending inventory under each of the following three methods (assume a periodic inventory system): (a) simple weighted average 0 FIFO, (C) LIFO, and make the necessary adjusting journal entries. 2. Prepare journal entries to record the following transactions of the XYZ Company July 1 Purchased goods from the Alfa Company for $3,000, 3/15, n/30 2 Sold goods to Beta Co. for $900, 9/10, 1/60 8 Sold $3,500 of goods for cash 9 Purchased goods from the Delta Co. for $4,200, 57,w15 11 Received $600 cash from the return of goods purchased on July 9. 12 Received the balance due from the Beta Co for the credit sale dated July 2 net of the discount 15 Paid the balance due to the Alfa Company within the discount period. 20 Sold goods to Gamma Co. for $1,650, 1/10, 1/60 21 Granted a $150 to Gamma Co for an allowance on goods sold on July 19, 24 Paid the Delta Co the balance 30 Received the balance de from the Gamma Co for the credit sale dated July 19, net of the discount 31 Close all retums, allowances and discounts