In relation to the sports watches, determine the cost of sales and ending inventory amounts for the quarter ending 30 September 20X8 on the basis

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In relation to the sports watches, determine the cost of sales and ending inventory amounts for the quarter ending 30 September 20X8 on the basis that ASD adopts a FIFO cost flow assumption and employs a perpetual inventory system. Show all workings.

The purchases of these watches from the offshore supplier have been received by ASD as follows: Opening inventory at 1 Jul 20X8 Nil Purchases on 15 Jul 20X8 1000 units @ $55 Purchases on 23 Aug 20X8 1200 units @ $58 Purchases on 13 Sep 20X8 1800 units @ $52 ASD has sold 3200 watches to major national surf retailers during the September 20X8 quarter (from 1 July 20X8 to 30 September 20X8). Details of the sales are as follows: 22 Jul 20X8 25 Aug 20X8 8 Sep 20X8 15 Sep 20X8 28 Sep 20X8 Waves Surf Shop Down the Line (DTL) Surf Co Beasty Barrel Surf Apparel Ace Surf-wear Buchan the Trendz 800 units @ $95 850 units @ $95 450 units @ $95 500 units @ $95 600 units @ $95