Final Exam-Bu 6005 Q part 2 (Protected View) - Word 4 Hashem Sayed Adnan Naser Majed Alcoblani gs Review View Help Question Four: LO 2 (16 Marks) Nitro Pro Tell me what you want to do Company Z uses the periodic inventory system. The information regarding the flow of its inventory is given in the table below: Date Detail Units Unit Cost 1-Aug Opening Inventory 70 $33 5-Aug Purchases 200 $34 10-Aug Sold 110 units for $50 each 13-Aug 18-Aug 21-Aug Purchases 45 $30 Purchases 350 $42 Sold 105 units for $55each 25-Aug Sold 100 units for $60 each 30 $41 29-Aug Purchases Use the information above to answer the following questions according to the periodic inventory system. (A)- Using the First in First out (FIFO) cost flow assumption, calculate ending inventory & cost of goods sold. (10 marks) Show your calculation here: i (B)- Using the Weighted Average method (AVCO) cost flow assumption, calculate the cost of goods sold and ending inventory. (6 marks) Show your Calculation here