3. A record of transactions for the month of May was as follows: Purchases Sales 200 @ $7.00 6 1,000 7.00 900 7.50 400 7.50 25 1,400 8.00 May 3 May 1 (balance) 400$4.20 1,300 @ $4.10 800 $4.30 700 $4.40 1,200 a $4.50 500 $4.55 4 14 29 12 18 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory and the cost of goods sold using: a. LIFO b. FIFO c. Moving average, use 2 decimal places Use provided tables on next pages