Q$2.$ XYZ Company$$s record of transactions for the month of September was as follows.

Purchase Sales

Date Quantity Unit Price Date Units

Sep $1($Balance on hand$)100$ $$4\mathrm{.}00$ Sep $5200$

Sep $43004\mathrm{.}50$ Sep $12150$

Sep $112005\mathrm{.}00$ Sep $27600$

Sep $182005\mathrm{.}25$ Sep $28200$

Sep $265005\mathrm{.}50$

Sep $302005\mathrm{.}75$

Total $1,5001,150$

Total units $($ending inventory$)350$

Required: $(4$ Marks$)$

Compute the ending inventory and COGS at September $30$ on each of the following on periodic bases.

$1.$ FIFO

$2.$ WA

Answer: