QUESTION 1 Part A The following information has been extracted from the records of Pellegrini P/L about one of its popular products, Pellegrini uses the perpetual inventory system. Its annual reporting date is 30 June. Ignore GST. No. of units Unit cost 2018 Feb. 1 1 200 $9.20 Beginning balance Purchases 18 800 9.25 March 5 1 000 Sales @ $12.50 per unit Purchases March 17 1 300 9.28 April Purchases returns 200 9.28 May 24 Sales @ $12.10 per unit 1 200 June 30 Purchases 2 800 9.32 Required: Using a perpetual system and the moving average method, (round average unit costs to the nearest cent, and total cost amounts to the nearest dollar). Record the inventory transactions on the stock card provided. Calculate the cost of the year-end inventory and the cost of sales. Purchases Sales Balance Date Particulars Units Unit Units Unit Total Units Unit Total Total cost cost cost cost cost cost