1 Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 1 Inventory Sale 100 units at $5 each 80 units at $8 each 4 11 Purchase 150 units at $6 each 13 Sale 120 units at $8.75 each 20 Purchase 160 units at $7 each 27 Sale 100 units at $9 each 1. Assume Fong Sal-Yuk uses a perpetual inventory system and FIFO. Calculate COGS and El. 2. Prepare all necessary journal entries (perpetual FIFO). Ex: Jan. 4 A/R Sales COGS 640 ($80x8) 640 400 ($80x5) Inventory 400 3. Assume Fong Sal-Yuk uses a perpetual inventory system and LIFO. Calculate COGS and El. 4. Assume Fong Sal-Yuk uses a periodic inventory system and LIFO. A physical count indicates that the ending inventory for January is 110 units. Calculate COGS and El 5. Prepare all necessary journal entries (periodic LIFO). Earthe