The following inventory transactions apply to Mica Power Company for Year 1: Jan. 1 Purchased 100 units @ $15 May 1 Sold 75 units @ $22 Aug. 1 Purchased 250 units @ $20 Dec. 1 Sold 400 units @ $25 The beginning inventory consisted of 150 units at $12 per unit. All transactions are cash transactions. Required a. Record these transactions in general journal format assuming Mica Power Company uses the FIFO cost flow assumption and keeps perpetual records. b. Compute the ending balance in the Inventory account. c. Compute cost of goods sold for Year 1.