In one year, an ABC company received 3 shipments of 1,000 sewing machines at $125 each on Feb 12, then 2,500 sewing machines at $100 each on April 20, and finally 3,200 sewing machines at $95 each on August 26.During the year, the company sold 4800 sewing machines at $190each. ABC company followsPerpetual system.

Instructions:

Find Cost of goods sold and Ending inventory using

1. FIFO
2. Moving Average Method