Pool Corporation Inc. reported in its recent annual report that the industry experienced some price deflation one year followed by more normalized price inflation of approximately 2 percent overall despite price deflation for certain chemical products. This suggests that in some years Pool's overall inventory costs rise, and in some years they fall. Furthermore, in many years, the costs of some Inventory items rise while others fall. Assume that Pool has only two product items in its inventory this year. Purchase and sale Information are presented below. Pool uses a perpetual inventory system. Transaction. Inventory Item A Units Unit Cost Units Inventory Item B Unit Cost Beginning inventory 40 $6 40 $6 Purchases, February 7 80 80 Sales, February 281 58 70 Purchases, March 16 100 100 Sales, April 28 110 90 Required: 1. Compute the cost of sales for each of the two items separately using the FIFO and weighted average cost inventory costing methods. (Do not round intermediate calculations.) Cost of Sales FIFO Weighted-Average Item A $ 1,240 Item B $ 760