The following information is provided for the month of May for Baxter Pty Ltd which uses a perpetual inventory system: May 1 May 12 May 19 May 22 Beginning inventory on hand was 40 units at a cost of $10 per unit Purchased 10 units using cash for $12 per unit Sold 45 units for cash at a selling price of $15 per unit Purchased 35 units using cash for $13 per unit There are three parts to this question: (a) Calculate the Cost of Sales for May using LIFO. Show all workings. (b) Calculate the Cost of Sales for May using Average Cost (round to 2 decimal places only). Show all workings. (c) Prepare the journal entries to record the first two transactions in May using the Average Cost inventory method. You can copy and paste the proforma below to assist you in answering this