Sheridan Company uses a perpetual inventory system. The following information is available for November:

				Units				Purchase Price		Sales Price
Nov. 1		Balance			8			$4.00
4		Purchase			20			$4.50
7		Purchase			20			$5.00
10		Sale			(8)					$8.00
12		Sale			(32)					$8.00

Calculate the cost of goods sold and ending inventory under FIFO and Calculate the cost of goods sold and ending inventory under weighted average