Question 1 A company made the following merchandise purchases and sales during the month of July: July 1 purchased 380 units @ $15 each July 5 purchased 270 units @ $20 each July 9 sold 500 at $55 each July 14 purchased 300 units @ $24 each July 20 sold 250 at $55 each July 30 purchased 250 @ $30 each. There was no beginning inventory. If the company uses the first-in, first-out method and the perpetual system, what would be the cost of the ending inventory?

Question 2

A company made the following merchandise purchases and sales during the month of May: May 1 purchased 380 units @ $15 Each May 5 purchased 270 units @ $17 Each May 10 Sold 400 units @ $50 each May 20 purchased 300 units @ $22 each May 25 Sold 400 units @ $50 Each There was no beginning inventory. If the company uses the weighted average inventory valuation method and the perpetual inventory system, what would be the cost of its ending inventory?