Part 1 - Inventory Costing (6 Marks) ABC Ltd. purchases and sells the following inventory item during the month of June: June 1: beginning inventory = $0 June 3. purchase 20 units at $50/unit June 5: purchase 30 units at $60/unit June 8: sold 30 units June 10: purchase 40 units at $55/unit June 18: sold 10 units a) Using the FIFO method of inventory costing, calculate the dollar amount of Cost of Goods Sold for the entire month of June = $ Supporting calculations: (2 Marks) Ending Inventory at June 30 = $ Supporting calculations: (2 Marks) I b) Using the moving weighted average method of inventory costing calculate the dollar amount of Cost of Goods Sold for only the June 8th sale = $ (2 Marks) Supporting calculations