1. Trout company 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	75	$12.00	$900
March 14	purchase	380	$13.00	$4940
July 30	purchase	500	$15.00	$7500
October 4	purchase	450	$16.00	$7200
Units available		1105
Cost of Goods				$20540

The company makes sales in the following dates

Date	Sale	Number of units
Jan 10	sale	70 units
March 15	sale	180 units
Oct 15	sale	450 units
Total		700 units

Assign the cost of the inventory using the following

1. FIFO

2. Weighted Average