Gareett Company has the following transactions during the months of April and May:

Date	Transaction	Units	Cost/Unit
April1	Balance	400
17	purchase	200	$5.50
25	sale	150
28	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

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. Reconcile and explain the difference betweeen the LIFO period and LIFO perpetual results.

3. If Garret uses IFRS, which of the previous alternatives would be acceptable, and why?