Company's inventory records for the most recent year contain the followingdata:

Quantity . unit cost

Beginning inventory: 4,000 . $8.00

Purchases During the year: $16,000 . $10.00

Sackville

Sackville Company sold a total of 18 ,600

18,600 units during the year.

.

Requirement 1. Using theaverage-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearestcent.)

Using the average-cost method, the cost of goods sold is

and the ending inventory is

.

Requirement 2. Using the FIFOmethod, compute the cost of goods sold and ending inventory for the year.

Using the FIFO method, the cost of goods sold is

$

and the ending inventory is

$

.