1.The beginning inventory and data on purchases and sales for March are as follows:

Beginning Inventory 6 units at $70 each

March 6th Purchase 10 units at $75 each

March 11th Sale 8 units at $100 each

A) Using the first-in, first-out method determine the cost of merchandise sold

B) Using the last-in, first-out method determine the cost of merchandise sold

2. The beginning inventory and data on purchases and sales for July are as follows:

Beginning Inventory 5 units at $70 each

July 8th Purchase 12 units at $75 each

July 20th Sale 5 units at $100 each

Determine the cost of merchandise sold using the weighted average cost method