On September 1, 2013, the inventory of Rusangu University International Church consisted of five Model OB3 boats. Each boat had cost K1,500. During the year ended August 31, 2014, 40 boats were purchased on the dates and at the costs that follow. During the year, 37 boats were sold. Date of Purchase # of Boats Cost per Boat Total Cost September 1, 2013 (beginning balance)5 K1,500 K 7,500 November 7,2013..8 K1,600 K12,800 March 12, 2014...12 K1,650 K19,800 May 22, 2014..10 K1,680 K16,800 July 28, 2014.6 K1,700 K10,200 August 30, 20144 K1,720 K 6,880 Total45 K73,980 Number of boats sold..37 Number of boats in 31/08/2014 inventory 8 Required Determine the ending inventory and Cost of Goods amounts at August 31,2014, under the following inventory methods: Specific Invoice price (3 for May 22, 2014 and 5 for July 28, 2014) Weighted-average First-in, first-out or FIFO and Last-in, First-out or LIFO.