Alternative Inventory Methods Garrett Company has the following transactions during the months of April and May: Date Transaction Units Cost/Unit April 1 Balance 400 17 Purchase 200 $5.50 25 Sale 150 Purchase 100 5.75 May 5 Purchase 250 5.50 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 750 $ 2,925 April 1,800 $ 2,500 May 28 b. FIFO perpetual Cost of Goods Sold Ending Inventory 750 $ 2,925 April $ S 1,800 2,500 May c. LIFO periodic Cost of Goods Sold Ending Inventory 1,650 X 825X $ April 1,950 X $ 1,075 May d. LIFO perpetual (Round your intermediate calculations to the nearest cent.) Cost of Goods Sold Ending Inventory 825 1,650 April $ May S 1,950 1,075 Weighted average (Round unit costs to 4 decimal places and final answers to the nearest dollar.) e. Cost of Goods Sold Ending Inventory 702 2,573 April $ 2,493 X 1,455X May $ f. Moving average (Round unit costs to 2 decimal places and final answers to nearest dollar.) Cost of Goods Sold Ending Inventory 675 $ 2,600 April S 1,740 $ 2,237 May