Al-Naseem Company operates in antiques trade in the city of Doha. The company uses the periodic inventory system. It has the following inventory, purchases, and sales data for the month of June 2016:

The Required: 1) Compute the total units and cost of the goods available for sale.

2) Compute the cost of goods sold and the cost of ending inventory using:

a. Weighted Average method. b. First-In, First-Out (FIFO) method. c. Compute the gross profit under the FIFO method.

Date Transaction Units Amount Per Unit (QAR) 5.00 5.50 7.00 01 June 08 June 13 June 17 June 22 June 28 June Beginning Inventory Purchase Sales Purchase Sales Purchase 250 550 600 450 500 350 6.00 8.00 6.50