The Concord Company counted physically their beginning balance on June 02, 2020 and subsequent inventory purchases made by the company during the month of June 2020 are given below: Date Description Units Rate Jun. 02 Beginning Inventory500 SIL Jun. 11 Purchased 400 13 Jun 23 Purchased 700 15 The company sold 1,400 units during the month of June 2020. Instructions: The company uses periodic inventory system. Compute the cost of goods sold and ending inventory on June 30, 2020 using the following inventory costing methods: a) First in, first out (FIFO) method. (10 marks) b) Weighted Average cost method. (10 marks)