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, 54, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumption Required: 1. Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives: 3. FIFO periodic Cost of Goods Sold Ending Inventory April $ $ May $ $ b. FIFO perpetual Cost of Goods Sold Ending Inventory April $ 5 May $ $ c. LIFO periodic Cost of Goods Sold Ending Inventory April 5 May $ d. UFO perpetual (Round your intermediate calculations to the nearest cent.) Check My Work May $ d. LIFO perpetual (Round your intermediate calculations to the nearest cent.) Cost of Goods Sold Ending Inventory April $ $ May $ $ e. Weighted average (Round unit costs to 4 decimal places and final answers to the nearest dollar) Cost of Goods Sold Ending Inventory April $ $ May $ 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 Difference $ $ Check My Work