The following transactions relate to sales and purchases made for Acompany Ltd in July. Acompany had

no beginning inventory.

July $3$ Purchased $100$ units at a cost of $$50$ per unit

July $5$ Sold $60$ units at a price of $$75$ per unit

July $13$ Purchased $50$ units at a cost of $$55$ per unit

July $20$ Sold $80$ units at a price of $$78$ per unit

July $22$ Purchased $40$ units at a cost of $$58$ per unit

July $25$ Purchased $30$ units at a cost of $$60$ per unit

July $30$ Sold $65$ units at a price of $$80$ per unit Required:

$1.$ Calculate the value of Ending Inventory and Cost of Goods Sold for July using $($i$)$

weighted average and $($ii$)$ FIFO.

$2.$ Calculate Gross Profit under each method for July