Please carefully read the attach document and make the assignment as per the requirement.
1. Make at least 20 hypothetical inventory transactions (20 transactions will include both purchases and sales)
2. Assume the inventory purchase price within the range of 300-350.
3. Prepare an inventory valuation sheet by using FIFO both for periodic and perpetual.
4. Prepare an inventory valuation sheet by using LIFO both for periodic and perpetual.
5. Explain what conclusion you can arrive at. Is that similar to requirement 4a above.