The following information relating to the product $Q$ was taken from the inventory records

of Somerset Corporation, for the period ending January $31$st$,$ Year $2$:

Required: Compute the Cost of Goods Sold AND Cost of the Ending Inventory on

January $31$st$,$ under each of the following inventory methods.

a$)$ A perpetual inventory system and FIFO cost formula $(4$ marks$)$

b$)$ A periodic inventory system and Moving Weighted Average cost formula. Round dollar

amounts to three $(3)$ decimal places $(4$ marks$).$