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Information related to Hickson Company's periodic inventory for October 3 1 st is given below. Beginning inventory, 3 0 0 units, total cost $ 1

Information related to Hickson Company's periodic inventory for October 31st is given below. Beginning inventory, 300 units, total cost $10, total cost $3,000. Purchase 1,800 units, total cost $10.40 each, total cost $8,320. Purchase 2,700 units, total cost per unit $10.80, total cost $7,560. Purchase 3,200 units, total cost $11.60 each, total cost $2,320. Total units, 2,000, total cost $21,200. Show calculations to value the cost of goods sold using the first-in, first-out cost flow assumption if 500 units remain on hand at October 31st. Show calculations to value the ending inventory using the weighted average cost flow assumption if 500 units remain on hand at October 31st.

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