Alternative Inventory Methods Garrett Company has the following transactions during the months of April and May: Date Transaction Units Cost/Unit April 1 Balance 500 17 Purchase 200 $5.20 25 Sale 150 28 Purchase 100 5.90 May 5 Purchase 250 5.20 18 Sale 300 22 Sale 50 The cost of the inventory on April 1 is $5, $4, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions. Required: 1. Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives: a. FIFO periodic Cost of Goods Sold Ending Inventory April $ 750 3,380 May $ 1,300 X $ X b. FIFO perpetual Cost of Goods Sold Ending Inventory April $ 750 $ 3,380e. Weighted average (Round unit costs to 4 decimal places and final answers to the nearest dollar.) Cost of Goods Sold Ending Inventory April $ 774 X $ 3,356 X May $ 1,820 X $ X f. Moving average (Round unit costs to 2 decimal places and final answers to nearest dollar.) Cost of Goods Sold Ending Inventory April $ May $ 2. Reconcile the difference between the LIFO periodic and the LIFO perpetual results. If an amount is zero, enter "0". April Cost of Goods Sold Ending Inventory Difference $ $ May Cost of Goods Sold Ending Inventory DifferenceC. LIFO periodic Cost of Goods Sold Ending Inventory April $ 850 $ 2,780 X May $ 1,300 X $ 0 X d. LIFO perpetual (Round your intermediate calculations to the nearest cent.) Cost of Goods Sold Ending Inventory April $ 780 $ 2,260 X May $ 1,595 X $ 295 X e. Weighted average (Round unit costs to 4 decimal places and final answers to the nearest dollar.) Cost of Goods Sold Ending Inventory April $ 774 X $ 3,356 X May $ 1,820 X $ 0 X f. Moving average (Round unit costs to 2 decimal places and final answers to nearest dollar.) Cost of Goods Sold Ending Inventory April $ May $