Shady Dog Music sells new music CDs of popular artists. The inventory, purchases and sales in chronological order are as follows: Date Details 2022 01/01 Beginning balance 06/01 Purchased 05/02 Sold @ $12.00 per unit Purchased 19/03 24/03 Purchased returns 10/04 Sold @ $12.10 per unit Purchased 22/06 31/07 Sold @ $13.25 per unit 04/08 Sales returns 04/09 Sold @ $13.50 per unit 06/10 Purchased 27/11 Sold @ $15.00 per unit No.of Unit a. FIFO b. Moving weighted average. Round all numbers to 2 decimal places. 800 300 1,000 1,100 80 700 8,400 1,800 20 3,500 500 3,100 Unit Cost 7.00 7.05 7.35 7.50 8.00 Required: Assuming the entity uses perpetual inventory system. Calculate the cost of inventories on hand and the cost of goods sold at 31 December 2022 under: