Patty Inc. sells one product, with information for June as follows:

June 1 Inventory 55 units at $15 each

June 2 Purchase 60 units at $16

June 4 Sale 100 units

June 11 Purchase 40 units at $17 each

Required:

1. Calculate Ending Inventory and Cost of Goods Sold using the periodic FIFO method
2. Calculate Ending Inventory and Cost of Goods Sold using moving average method using the perpetual method.

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