From the information given below , calculate the cost of goods sold , the closing inventory , and the gross profit , for the year using the following 1. The periodic weighted average method 2. The periodic method Assume a selling price of $75 per unit The following information relates to the inventory in the records of Canada Units Date Details Total Unit 8 $35 $280 July Beginning Inventory Purchased 11 $38 418 14 Aug. 9 25 Sept. Sold 400 $ 40 10 8 Jan Purchased 210 \$42 5 3 March Purchased 11 April Sold 4 10 June Sold

From the information given below, calculate the cost of goods sold, the closing inventory, and the gross profit, for the year, using the following 1. The periodic weighted average method 2. The periodic FIFO method Assume a selling price of $75 per unit The following information relates to the inventory in the records of Canada Ltd: Date Details Units Unit price Total 1 July 8 $280 Beginning Inventory $35 $38 418 11 Purchased 114 Aug. 9 25 Sept. Sold 10 $40 400 8 Jan Purchased 210 $42 5 3 March Purchased 11 13 April Sold 4 110 June Sold