with clear explanations

II. Pearcy Company reports the following activity during October related to its inventory of cameras; (16%) Oct. 1 Beginning inventory consisted of 100 cameras costing $40 each. 3 Purchased 60 cameras costing $50 each. 4 Sold 70 cameras for $80 each. 10 Purchased 200 cameras costing $55 each. 16 Sold 80 cameras for $90 each. 19 Purchased 40 cameras costing $60 each. 25 Sold 150 cameras for $90 each. (a) Using the periodic inventory system and the inventory and sales data above, calculate the value assigned to cost of goods sold in October and to the ending inventory at October 31 using (1) FIFO and (2) Average Cost. (b) Using the perpetual inventory system and the inventory and sales data above, calculate the value assigned to cost of goods sold in October and to the ending inventory at October 31 using (1) FIFO and (2) Average Cost. (a) (b) Cost of Goods Sold Ending Inventory Cost of Goods Sold Ending Inventory 11,330 5.900 14,700 5,700 11,730 5,900 15/03 4,997 (1) (2)