2) Taco Hell Inc. had the following balances and transactions during 2017: Beginning Merchandise Inventory 30 units at $80 March 10 Sold 25 units lune 10 Purchased 40 units at $87 October 30 Sold 20 units What is the amount of the company's Merchandise Inventory and COGS, as disclosed in the December 31, 2017 balance sheet, using the periodic FIFO inventory costing method? (10pts) 3) Magras Gas uses a perpetual inventory system. Journalize the following sales transactions. (20pts) Sold $15,000 of merchandise on account, credit terms are 3/15, n/30. Cost of June 10 goods is $8,000. June 14 Received a $700 sales return from the customer. Cost of the goods is $700. Magras Gas receives payment for the customer for the amount due from the June June 23 10 sale. Debit Credit Date Transaction