7. Gale Company has the following inventory and purchases during the fiscal year ended December 31, 2017.

Beginning inventory ................ 280 Units at $80/ unit

Feb. 10 purchased.................. 195 Units at $84/unit

Feb. 20 sold........................... 360 Units at $160/unit

Mar. 13 purchased ................. 290 Units at $78/ unit

Sept. 5 purchased .................. 255 Units at $64/unit

Oct. 10 sold ........................... 510 units at $160/unit

Gale Company employs a perpetual inventory system.

Question :

1.Calculate the dollar value of ending inventory and cost of goods sold using:

a. FIFO

b. Moving weighted average.