Tutor 7 PT Lafayette has 450 units with a total of $27,000 in inventory balance at the beginning of August 2019. Aug 3 Lafayette purchased 3800 units merchandise for $285,000 from Superbowl Supplier and Co. Freight is $19,000. FOB Shipping point. 7 Lafayette returned 150 units to Superbowl Supplier and Co. @$80. 10 Lafayette paid their debt to Superbowl Supplier and Co. 13 Purchase 1850 units @$85 19 Lafayette sells 3000 units of merchandise to Chivas for $432,000. Freight is $9,000, FOB Shipping Point 22 Chivas returned 570 of damaged goods @$80,370 29 Chivas paid their debt Questions 1 Calculate the COGS and ending inventory with: a. Moving Average Method b. Weighted Average Method 2 Assume Lafayette use a FIFO method. Calculate the COGS and ending inventory with: a. Perpetual Method b. Periodic Method 3 Calculate the Inventory turnover and days in inventory for August using the COGS from perpetual FIFO