Nector Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year: Sales Purchases Units Unit Cost Units Selling Price/Unit Apr 1 Beginning inventory 25 Purchase 25 $8. 150 9 May 4 Purchase 65 10 16 Sale 50 $14 Jun 4 Purchase 40 40 12 Instructions (a) Using the FIFO cost method, calculate the cost of goods sold for the quarter ended June 30. (b) Using the FIFO cost method, the ending inventory at June 30. (c) Using the average cost method, calculate the ending inventory at June 30. Use unrounded numbers in your calculations but round to the nearest cent (2 decimals) for presentation purposes in your answer. (d) Using the FIFO method, prepare the journal entry to record the sale transaction May 16 assuming the amount was put on account. Round numbers to 0 decimals. Enter the reception of cash first. ear assuming that all transactions were paid