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Grouper Company. uses a perpetual inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost July 1,
Grouper Company. uses a perpetual inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost July 1, inventory 294 $2.50 $735 Purchases: July 5 420 3.50 1,470 July 10 294 4.50 1,323 July 15 336 5.50 1,848 Sales: July 11 530 July 19 318 Using the perpetual system, determine the ending inventory and cost of goods sold under FIFO method. Cost of goods sold $ Ending inventory $ Using the perpetual system, determine the ending inventory and cost of goods sold under weighted-average method. (Round answers to O decimal places, e.g. 5,275.) Cost of goods sold $ Ending inventory $
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