Questions:

1. Calculate the closing inventory balance (in dollars) and the cost of goods sold (in dollars) using the FIFO method.
2. Calculate the closing inventory balance (in dollars) and the cost of goods sold (in dollars) using the weighted average method. Round to the nearest cent. (i.e $X.XX)

Barrett Manufacturing Inc. manufactures optics and provides you with the following transaction information for the month of July 2023 01-Jul Opening inventory balance 31,640 units@\$82 each 07-Jul Purchased 3,500 units @ \$41 each 13-Jul Purchased 2,860 units@\$92 each 19-Jul Purchased 690 units @\$184 each 22-Jul Purchased 2,360 units @\$36 each Inventory is counted on July 31 st and they find they have 2,145 units left meaning xxxxx units were sold during the month. Management has asked you to provide them with the ending inventory value and cost of goods sold under the FIFO and Weighted Average