Dashboard Jazmin Zaragoza Valuing Inventory and Recording Entries Using Relative Sales Value Method AVC Inc. pored 2,880 bags of pecans that cost $10,080. The company also incurred $720 for transportation and grading. The relative sales value method is used to allocate the lump sum cost. The pecans graded out as follows Grade Quantity (bags) Current Market Price per Bag A 960 1440 C 240 W 240 3675 6.00 450 0.00 Required a. Prepare the purchase entry assuming a perpetual inventory system. b. Determine the value of ending inventory assuming the following quantities are in inventory at year end: grade A, 240 bags; grade 192 bags and grade C, 96 bags c. Prepare the entry for sale of 48 bags of grade A pecans at a market price of $675 cash per bag Note: Carry all decimals in calculations; round the final answer to the nearest dollar Invertory-Grade wwentory-Grade C Cash To the Account Name Dr. Cr. 1070 1028 300 0 b. Determine the value of ending inventory assuming the following quantities are in inventory at year-end: grade A, 240 bags; grade B, 192 bags; and grade C 96 bags. Prepare the entry for sale of 48 bags of grade A pecans at a market price of $6.75 cash per bag Note: Carry all decimals in calculations; round the final answer to the nearest dollar Account Name Inventory-A Inventory-Grade B Inventory-Grade C Cash To record the purchase.of.imentory Inventory-Grade A 10 Inventory-Grade B 7.26 M Inventory-Grade C Total 422 60.26 Dr. Cr. 10368 10464 10128 30060 Account Name Dr. Cr. Turecont the sale at pecans