The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is NOT paid on the maturity. The company protested the note, nottery fee \$2. Paid the bank the principal amount of the loan plus $1,200 interest. 1. ABC Company's inventory records show the following data for the month of June: A physical inventory on June 30 shows 350 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses a periodic inventory system a) FIFO b) simple weighted average c)L.IFO and make necessary adjusting journal entries. The company pledged its $10,000 notes receivables to a bank and received a loan of $8,500. The note is NOT paid on the maturity. The company protested the note, nottery fee \$2. Paid the bank the principal amount of the loan plus $1,200 interest. 1. ABC Company's inventory records show the following data for the month of June: A physical inventory on June 30 shows 350 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses a periodic inventory system a) FIFO b) simple weighted average c)L.IFO and make necessary adjusting journal entries