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Method AVC Inc. purchased 4.800 bags of pecans that cost $16.800. The company also incurred 51,200 for transportation and grading. The pecans graded out as follows Grade Quantity (bags) Current Market Price per Bag A 1,600 $6.75 B 2.400 6.00 400 4.50 Waste 400 Required Assume the relative sales value method is used to allocate lump sum costs. 2. Prepare the purchase entry assuming a perpetual inventory system b. Determine the value of ending inventory assuming the following quantities are in inventory grade A, 400 bags: grade B, 320 bags: and grade C 160 bags c. Prepare the entry for sale of 80 bags of grade A pecans at a market price of $6.75 cash per bag Carry all decimals in calculations, round the final answer to the nearest dollar. Account Name Inventory-Grade A Inventory-Grade B Inventory-Gradec Dr. Cr. Inventory-Grade AS Inventory-Grade B Inventory-Gradec Total 5 Account Name Dr. Cr. Cash Inventory