Eevee's Chemicals started operations on Dec 1. Inventory records for Eevee's Chemicals revealed the following transactions during December Units Unit Cost Total Cost Purchases Dec. 2 Dec 10 Dec. 20 200 140 160 $3.00 $4.00 $5.00 $600 $560 $800 Sales Dec. 15 Dec. 30 Units 250 150 Sale Price $6.00 $7.00 Required: 1. Assuming that all the purchases are made on account, prepare the journal entries to record the purchases on Dec 2 under (a) perpetual inventory system and (b) periodic inventory system 2 Under perpetual inventory system, determine the cost of goods sold, ending inventory, and gross profit amounts under (*) FIFO cost and (b) weighted average cost method Round weighted average cost per unit to four decimal places and round all other amounts to the nearest dollar Show your calculations