A record of transactions for the month of May was as follows: Purchases 1-May 1,400 @ $3.12 (balance) 3-May 4 1,300 @ $3.10 6 8 1,800 @$4.30 12 14 1,700 @ $4.40 18 22 1.200 @ $4.80 25 29 500 @ $5.55 Sales Units 1,200 1,000 1,100 1,000 1,400 Using the following tables, (FIFO, LIFO, Moving Average) compute the ending inventory and the cost of goods sold, assuming the company uses perpetual inventory records. The first couple of transactions have been done for you as an example. Enter your answers in the grey areas. Purchase LIFO - Perpetual Inventory Sale Breakdown Balance Price per Total Units Sold Units Unit Cost COGS Date 5/1 5/3 Units 1,400 Unit 3.12 Total 1,280 Unit Price 3.12 3.12 Total Inventory Value 4368 1,200 1,200 3.12 3744 624 5/4 1,300 3.10 4,030 Units 1,400 200 200 1,300 200 300 3.12 3.10 624 4,030 624 930 5/6 1,000 1,000 3.10 3,100 3.12 3.10 5/8 1,800 4.30 12 14 1700 4.40 18 22 1200 4.80 14 1700 4.40 18 22 1200 4.80 25 29 500 5.55 Total Purchases Total Cost of Goods Sold