TechGreen Ltd. had the following transactions in May:

Date	Description	Units	Unit Cost	Total Cost
May 1	Beginning Inventory	200	$55	$11,000
May 7	Purchase	400	$57	$22,800
May 14	Sale	300	-	-
May 21	Purchase	350	$60	$21,000
May 28	Sale	450	-	-
May 30	Purchase	300	$63	$18,900

Required:

1. Compute the ending inventory and COGS using the weighted average cost method.
2. Prepare the journal entries for the inventory transactions.
3. Calculate the net income for May, assuming operating expenses of $5,000.
4. Explain how the inventory valuation method impacts the balance sheet and income statement.