TCO 8) A company purchases inventory during the year in four batches, with unit and price amounts shown below:

Batch 1 9,500 units @ $2.10 per unit

Batch 2 4,300 units @ $2.08 per unit

Batch 3 3,600 units @ $2.04 per unit

Batch 4 7,200 units @ $2.01 per unit

10,800 units were sold after Batch 2 was purchased, while 3,400 units were sold after Batch 3 was purchased.

Required:

-1. Calculate cost of goods sold and ending inventory under the FIFO method, using the perpetual inventory system.

-2. Calculate cost of goods sold and ending inventory under the FIFO method, using the periodic inventory system.