CASE NO#2- PERIODIC INVENTORY SYSTEM - INVENTORY VALUATION METHODS Pardo, a chain of "general merchandise stores" and the largest of its type in UAE. The company follows Perpetual Inventory System. The company furnishes the following information for the month of January 2022: Date Description Quantity Unit cost (OMR) January 1 Opening Inventory 1,700 15 January 6 Purchase 4,700 16 January 9 Sales 1,400 January 11 Purchase 3,500 16 January 12 Purchase 4,700 17 January 14 Sales 2,500 January 20 Purchase 1,800 18 January 22 Purchase 1,500 19 January 24 Sales 700 You are required to compute: a) The amount of Cost of goods sold and Ending Inventory Value based on Weighted Average Method using periodic inventory system. b) Prepare the Journal entries based on Weighted Average Method using periodic inventory system.