BAT4M - Financial Accounting Principles Unit 1 - The Perpetual Inventory System Assignment 2:59 pm Complete the following assignment by recording your responses on the spreadsheet template. Kyle's Home Depot Superstore Greeting carries a special brand of wall units that has proven to be very popular. Kyle uses a perpetual inventory system. All purchases and sales are made on account. The following are the purchases and sales for this product for the month of August. Purchases Sales Date Units Units Cost $ Price $ Opening Inventory 6 255 August 2 6 255 August 4 4. 380 August 8 6 266 August 14 5 390 August 19 6 390 August 27 9 275 August 30 3 400 a. Calculate the cost of goods sold and ending inventory using the FIFO method of inventory valuation Calculate the cost of goods sold and ending inventory using the LIFO method inventory valuation. Calculate the cost of goods sold and ending inventory using the Average Cost method of inventory valuation d. Record the journal entries for the August 8 purchase and the August 14 sale using the Average Cost method