Question 3 (45 marks, suggested time 20-25 minutes) On May 1, the beginning of its fiscal year, UR Office Supply Ltd. had an inventory of 100 staplers at a cost of $20 each. The company uses a perpetual inventory system. During May, the following transactions occurred: May 2 May 10 May 11 May 14 May 21 May 29 Purchased 750 staplers for $20 each from Digital Corp. on account, terms n/30 Returned 10 staplers to Digital for $200 credit because they did not meet specifications Sold 260 staplers for $30 each to Campus Book Store, terms n/30 Granted credit for $300 to Campus Book Store for the return of 10 staplers. The staplers were restored to inventory. Sold 300 staplers for $30 each to Student Card Shop, terms 1/10, n/30 Paid Digital the amount owing May 30 Received payment in full from the Student Card Shop a) Record the May transactions. No explanations required. Show all calculations. (37 marks) b) Determine the ending balance of inventory in units and ending balance of costs of goods sold in both dollars and units. Show all calculations. (8 marks)