1. Troucompany uses a perpetual system and made purchases and sales of a product as follows:

Date	Purchase	Number of units	Cost per unit	Total Cost
Jan 1	beginning	70	$12.00	$840
March 14	purchase	180	$13.00	$2340
July 30	purchase	250	$15.00	$3750
October 4	purchase	370	$16.00	$5920
Units available		870
Cost of Goods				$12850

The company makes sales in the following dates

Date	Sale	Number of units
Jan 10	sale	60 units
March 15	sale	120 units
Oct 15	sale	150 units
Total		330 units

The company makes sales in the following dates using special identification method

Date	Number of unit
Jan 10	60 units from the beginning inventory
March 15	5 from the beginning inventory 160 units from the March 14 purchase
Oct 15	10 units from March 14 purchase 330 units from Oct 4 purchase
Total

Assign the cost of the inventory using the following

1. FIFO
2. Specific identification