Trout Company used a perpetual inventory sytstem and made purchases and sales of a particular product in 2020 as follows:
01-Jan	Beginning Inventory			120 units	@	$ 6.00
10-Jan	Sold			70 units	@	$ 15.00
07-Mar	Purchased			250 units	@	$ 5.60
15-Mar	Sold			125 units	@	$ 15.00
28-Jul	Purchased			500 units	@	$ 5.00
03-Oct	Purchased			450 units	@	$ 4.60
05-Oct	Sold			600 units	@	$ 15.00
Required
Calculate the ending inventory and the cost of goods sold using FIFO and Moving Weighted Average
16 marks
FIFO
	Purchased			Cost of Sales			Ending Inventory
Date	Qty	Price	Total	Qty	Cost	Total	Qty	Cost	Total
8 marks
Moving Weighted Average
	Purchased			Cost of Sales			Ending Inventory
Date	Qty	Price	Total	Qty	Cost	Total	Qty	Cost	Total