assume the company uses a periodic inventory system and counts inventory at the end of each month

Cost per unit $5.00 $5.10 $5.15 ? Beginning inventory, January 1 Purchase, January 4 Purchase, January 25 Sales, month of January Purchase, February 14 Sales, month of February Purchase, March 7 Purchase, March 21 Sales, month of March # Units 3,000 5,000 6,000 (12,000) 8,000 (7,000) 4,000 5,000 (11,000) $5.00 $4.95 $5.10 Required: 1. Using the first-in-first-out (FIFO) method, compute the amount of cost of goods sold for the quarter ending March 31 and the cost of ending inventory on March 31; 2. Using the weighted average cost method, compute the amount of cost of goods sold for the quarter ending March 31 and the cost of ending inventory on March 31