HW Problem 5.1 - Oranje Co uses the perpetual inventory system and had the following purchases & sales: Date Transaction Units Price/Unit 1-May Beginning Inventory 600 $ 24.00 3-May Purchase 300 $ 26.40 15-May Purchase 240 $ 32.40 18-May Sale (at retail price) 960 $ 60.00 24-May Purchase 360 $ 35.40 25-May Sale (at retail price) 180 $ 60.00 A) Calculate the cost of goods available for sale and the number of units available for sale. B) Calculate the units sold in May and the dollar amount recorded in sales. C) Calculate the number of units remaining in ending inventory. D) Compute the cost of goods sold and ending inventory values using: FIFO, LIFO, weighted average, and specific identification methods. For specific identification assume that the remaining inventory includes 200 units are from the 5/15 purchase and 160 units from the 5/3 purchase. E) Calculate gross profit earned under each of the costing methods