FIFO and Moving Weighted Average					24 marks		Your score
Salmon Company used a perpetual inventory sytstem and made purchases and sales of a particular product in 2020 as follows:
01-Jan	Beginning Inventory			236	units		@	$ 7.00
10-Jan	Sold			145	units		@	$ 1.00
07-Mar	Purchased			90	units		@	$ 6.90
15-Mar	Sold			110	units		@	$ 12.00
28-Jul	Purchased			150	units		@	$ 7.10
03-Oct	Purchased			200	units		@	$ 6.95
05-Oct	Sold			300	units		@	$ 12.00
Required
Calculate the ending inventory and the cost of goods sold using FIFO and Moving Weighted Average
FIFO
	Purchased			Cost of Sales			Ending Inventory
Date	Qty	Price	Total	Qty	Cost	Total	Qty	Cost	Total
01-Jan
10-Jan
07-Mar
15-Mar
28-Jul
03-Oct
05-Oct
Moving Weighted Average
	Purchased			Cost of Sales			Ending Inventory
Date	Qty	Price	Total	Qty	Cost	Total	Qty	Cost	Total
01-Jan
10-Jan
07-Mar
15-Mar
28-Jul
03-Oct
05-Oct