Alternatve Inventory Methods Garrett Company has the following transactions during the month May: ns during the months of April and Date Transaction Balance Purchase Sale Purchase Purchase Sale Sale Units 400 200 150 100 250 300 50 Cost/Unit $5.50 5.75 April 1 17 25 28 May 5 18 5.50 The cost of the inventory on April 1 is S5, S4, and S2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions. Required: 1. Compute the inventorie s at the end of each month and the cost of goods sold for each month for the following alternatives: a. FIFO periodic b. FIFO perpetual c. LIFO periodic d. LIFO perpetual e. Weighted average (Round unit costs to 4 decimal places.) f. Moving average (Round unit costs to 4 decimal places.) 2. Next Level Reconcile and explain the difference between the LIFO periodic and the LIFO perpetual results 3. Next Level If Garrett uses IFRS, which of the previous alternatives would be acceptable, and why