BAT4M Unit 3, Activity 3 Assignment Perpetual Inventory using three different methods The Reliable Appliance Mart began operations on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for its popular microwave/convection oven. a. Calculate the cost of goods sold and ending inventory using the FIFO method of inventory valuation. b. Calculate the cost of goods sold and ending inventory using the LIFO method of inventory valuation. c. Calculate the cost of goods sold and ending inventory using the Average Cost method of inventory valuation. d. Record the journal entries for the month of May using the FIFO method. All entries were cash transactions