10 16 Sale (6) Sale (10) Purchase 12 Sale (20) $80 82 55 20 25 85 quired: 1. Compute the cost of goods sold and ending inventory under FIFO. 2. Compute Gross Margin under FIFO Jan-Con Company provides the following information for the month of August. Date Units/Unit Total Aug Opening inventory 405 30 1,200 Aug 3Purchase 60 $ 35 $2,100 Aug 10 Sale 100560 6,000 Aug 22 Purchase 90 $ 40 $3,600 Aug 24 Sale 70 570 54,900 Required: What is the value of the ending inventory assuming the company uses a periodic inventory system and the weighted- average method? (b) What is the cost of goods sold if the company uses a perpetual inventory system and the FIFO method of valuing inventory? What is the cost of goods sold if the company uses a perpetual inventory system and the weighted average method of valuing inventory