UAP Inc. is a wholesale company selling special parts for the automotive industry. The company uses FIFO and a perpetual inventory system. Its inventory records for part SA-123 show the following transactions for the month of May 2021:

Date	Transaction	Units	Unit	Units	Unit
		Purchased	Cost	Sold	Selling
					Price
May 1	Balance	180	$10.50
May 10	Purchase	750	$10.80
May 15	Sale			(150)	$18.60
May 20	Purchase	150	$11.03
May 21	Sale			(225)	$18.75
May 23	Purchase	375	$11.10

1. Assume instead that UAP uses the periodic system and average cost. Prepare the journal entry for May 21 sale and the whole month of May cost of goods sold using the information in the above table. Assume beginning inventory was $1,890 and ending inventory is 1,080 units.