Use the following information to answer the questions below: The following is the inventory and purchases for Kobe Co. during the month of May: Units Cost Per Unit Beginning Balance 5/1 1000 $10 Purchase 5/9 1500 Purchase 5/15 1000 Purchase 5/21 1000 At the end of the month there were 1100 units in inventory Calculate the cost of goods sold and the value of the ending inventory for FIFO, LIFO, and weighted average. Which method should the company use? Why? The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $146,035. The bank statement indicated a balance of $181,965 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: 1. Checks outstanding totaled $16,445. 2. A deposit of $9,900, representing receipts of June 30, had been made too late to appear on the bank statement 3. The bank collected $31,800 on a $30,000 note, including interest of $1,800. 4. A check for $2,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $200. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. 5. A check drawn for $170 had been erroneously charged by the bank as $710. 6. Bank service charges for June amounted to $75. Instructions Prepare a bank reconciliation