Information related to Hixen Company's periodic inventory for October 31 is given below:

	Units	Unit Cost	Total Cost
Beginning Inventory	300	$10.00	$ 3,000
Purchase 1	800	10.40	8,320
Purchase 2	700	10.80	7,560
Purchase 3	200	11.60	2,320
Totals	2,000		$21,200

Instructions

1. Show calculations to value cost of goods sold using the FIFO cost flow assumption if 500 units remain on hand at October 31.

2. Show calculations to value the ending inventory using the Weighted Average cost flow assumption if 500 units remain on hand at October 31. Remember to show your work.