Inventory Costing Methods$-$Perpetual Method The following information is for the Toon Company for the year; the company sells just one product:

Units Unit Cost

Beginning Inventory Jan. $1200$ $$112$

Purchases: Feb. $11500$ $$113$

May $18400115$

Oct. $23100118$

Sales: March $1400$

July $1400$

Calculate the value of ending inventory and cost of goods sold using the perpetual method and $($a$)$ first$-$in$,$ first$-$out, $($b$)$ last$-$in$,$ first$-$out, and $($c$)$ the weighted$-$average cost methods.

Do not round until your final answers. Round your final answers to the nearest dollar.

A$.$ First$-$in$,$ First$-$out:

Ending Inventory Answer

$0$

Cost of goods sold Answer

$0$

B$.$ Last$-$in$,$ first$-$out:

Ending Inventory Answer

$0$

Cost of goods sold Answer

$0$

C$.$ Weighted Average

Ending Inventory Answer

$0$

Cost of goods sold Answer

$0$