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Gordon Company uses a periodic inventory system and the following inventory related transactions for 2020 are available: Units 10 Unit Cost S60 Total Cost S600

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Gordon Company uses a periodic inventory system and the following inventory related transactions for 2020 are available: Units 10 Unit Cost S60 Total Cost S600 Jan 1 Beginning Inventory Purchases March 28 Purchase August 22 Purchase October 14 Purchase Goods Available for Sale 20 20 25 66 70 76 1,320 1,400 1.900 $5.220 Sales May 1 October 28 Total Revenue Sales Sales 25 20 Unit Sales Price $100 S100 Revenue $2,500 $2.000 $4,500 A physical count indicates 30 units in inventory at year-end. Required: (Show all calculations and round ALL answers to 2 decimal places.) (5 marks) Using First-In-First-Out method, calculate the following: (1) Cost of ending inventory (11) Cost of goods sold b. (5 marks) Using weighted average cost method, calculate the following: (i) Cost of ending inventory (1) Cost of goods sold c. If Gordon Company adopts a perpetual inventory system and uses weighted average cost method, calculate the following: (4 marks) 6. Cost of ending inventory (ii) Cost of goods sold

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