16. The following information relates to the inventory of All Blacks Ltd during October 2019. Note that all sales and purchases are conducted on a credit basis. October 1 October 3 October 10 October 15 October 25 Beginning inventory Purchases Sales (sale price $17) Purchases Sales (sales price $19 90 units @ $12 100 units @ $13 100 units 110 units @ $14 40 units Required: Ignore GST. Show supporting calculations. (a) Assuming All Blacks Ltd uses a perpetual inventory system: i. Prepare the required journal entry/entries to record the purchase on October 3. (1 mark) Inventory 1300 Accounts Payable - All blacks 1300 I lo record porchouse on account) 100*$3 = $1300 ii. Prepare the required journal entry/entries to record the sale on October 25, assuming All Blacks uses the moving average method of valuing inventory. (3 marks) iii. Determine the cost of the ending inventory for October assuming All Blacks Ltd uses the moving average method of valuing inventory. (2 marks) (b) Assuming All Blacks Ltd uses a periodic inventory system and the weighted average method, determine the cost of the ending inventory for October AND the cost of sales for October (4 marks)