1. The following information relates to the one typy of inventory of Toy Ltd during the month of May 2022. gnore GST. Units Units cost ($) Total cost ($) 1/5 Beginning inventory 2,520 33 83,160 10/5 Purchase 1,800 34.8 62,640 15/5 Purchase 1,080 36.6 39,528 23/5 Purchase 1,800 39 70,200 Totals 7,200 $255,528 Toy Ltd has adopted the Periodic Inventory System. A physical count on 31 May verified that 2160 units of the type of inventory were on hand. Required: a) Determine the Ending inventory and Cost of Sales for the month of May, using the FIFO costing method. (6 marks) b) Discuss at least 4 differences between Perpetual and Periodic Inventory systems. Your comparison should be based on aspects such as recording keeping, internal control, end of period process and business opportunity etc. (4 marks)