On January 1, 2010 Zia Trading Company had 8,000 units in inventory costing Rs. 120,000.

During the period ended June 30, purchases were made as follows:

4^th February 1,500 units @ Rs. 16

2^nd April 2,500 units @ Rs.18

31^st May 6,000 units @ Rs. 19

Sales made during the period ended June 30, are as under:-

10^th January Sold 4,000 units at Rs. 20 per unit.

6^th February Sold 1,000 units at Rs. 21 per unit.

15^th April Sold 2,000 units at Rs. 22 per unit.

16^th June Sold 4,000 units at Rs. 23 per unit.

Required:

a) FIFO b) LIFO c) Average method Determine the Cost of ending inventory and Cost of goods sold at June 30, assuming that the business uses the perpetual inventory system.