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please solve both parts Flint Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations Date
please solve both parts
Flint Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations Date Explanation Units Unit Cost Total Cost Balance in Units 240 755 433 1,366 1,054 Aug. 2 Purchases 240 515 (322) 933 (312) $69 $16,560 104 53,560 3 Purchases 10 Sales 15 Purchases 25 Sales 124 115,692 Calculate the cost of goods sold and ending inventory using the FIFO cost method Cost of goods sold Ending inventory LINK TO TEXT Calculate the cost of goods sold and ending inventory using the average cost method. (Round final answers to 2 decimal places, e.g. 1.25.) Cost of goods sold Ending inventoryStep by Step Solution
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