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2: Dhofar Company has the following information regarding its inventory items for 20 21. Date Event Details Jan. 1 Balance 5 00 units @ RO3

2: Dhofar Company has the following information regarding its inventory items for 2021.

Date

Event

Details

Jan. 1

Balance

500 units @ RO3.5

April 7

Purchase

300 units @ RO4.5

June 17

Sale

325 units

Aug. 13

Purchase

280 units @ RO6

Oct. 16

Sale

310 units

Nov. 12

Purchase

200 units @ RO 6.5

Dec. 21

Sale

150 units

a. Using the periodic system, determine cost of goods sold and the ending inventory balance under FIFO, LIFO, and weighted average.
b. Determine FIFO, LIFO, and weighted average under the perpetual system.

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