1st stage: shoot the tentacle, right from were it spits
2nd stage: just shoot the core, try aiming to it's head, don't know if it does more damage, but just shoot.
But yeah, you need some ammo to bring it down.
i agree with you.. it took me 3 Mags of AR to kill the first stage. and idont remamber the 2nd stage but i think its also 3 mags.
Aslong you hit the Tentacle on the first stage and the Head on the 2nd stage, u will be able to kill it fast if you spam bullets to those area. hitting the body will take more ammo and time