TESCO is a British multinational groceries and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third-largest retailer in the world measured by gross revenues. It has shops in seven countries across Asia and Europe. It is the market leader of groceries in the UK, Ireland, Hungary, and Thailand. It provides the following purchases and sales of Merchandise Inventory for the month of June 2022 : Company follows Periodic Inventory System. All purchases and sales are on credit basis. You are required to: a) Compute the cost of goods sold and closing inventory value under FIFO and Weighted Average Method. b) Identify necessary journal entries for the above purchase and sales of Merchandise Inventory under FIFO and Weighted Average method