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purchase price Perpetual Inventory System-Weighted Average sale value units price value units units balance price value 10041 170 5 300 4 date operation 1 Beg. Bal 2 purchase 5 sale/40 7 sale/80 10 purchase 12 sale/440 17 sale/5 20 purchase 23 sale/75 27 purchase 29 sale/30 160 7 250 8 purchase price Perpetual Inventory System-FIFO sale units price value balance value date units value units price operation 1 Beg. Bal 2 purchase 5 sale/40 7 sale/80 10 purchase 300 12 sale/440 17 sale/5 20 purchase 23 sale/75 27 purchase 29 sale/30 purchase price Perpetual Inventory System-LIFO sale units price value balance value date value units operation units Beg. Ball price 1001 2 purchase 5 sale/40 71 sale/B0 10 purchase 12 sale/440 17 sale/5 20 purchase 23 sale/75 SI 27 purchase 250 29 sale/30 Required: 1. Complete the above tables by formatting the cells to calculate the ending inventory using the three cost inventory methods 2. Calculate the cost of goods sold and ending inventory under the three inventory methods 3. Explain the impact of ending inventory and cost goods sold on the balance sheet and the income statement under the three inventory methods. 4. What happens in a situation where a parent company and its subsidary use different inventory costing methods? 5. Which of the three cost inventory methods is banned under IFRS and explain why, in your own words? (Please refer to the specific IFRS in your answer)