QUESTION 2 Cangkir Ltd uses a periodic inventory method and provides the following information in relation to its inventory transactions during February 2019: February 1 Beginning inventory 8 Purchased 15 Purchased 18 Return Purchased on 15 Feb 20 Sold 26 Purchased 28 Sold Required (Ignore GST and show all workings): 15 units 5 units 25 units (5 units) (15 units) 10 units (22 units) @ $100 @ $120 @ $125 @$125 @$200 (sales price) @ $130 @$200 (sales price) 1. Assuming that there are no consignment goods and GST, calculate the cost of Ending inventory at 28 February 2019 and the Cost of Sales (Cost of Goods Sold) for the month of February using the following methods: a. Weighted Average b. First In, First Out (FIFO) Mark for the working 2. Prepare journal entries in general journal to record the above transaction using perpetual inventory and FIFO method. All the transactions were on account. 5 marks 5 marks 5 marks 10 marks