--> XC Prag B 9 10 23 8,500 31 INVENTORY COST ELOWS Que navigation Candy Company has approached you to help decide what type of inventory system it should use (perpetual vs. periodic and what cost flow assumption to adopt (FIFO VS. Average Cost). 112 Inventory written off due to loss or damage is expensed to cost of goods sold of identified) During September/ 2020 the following inventory transactions occurred: Date 15 17 Description Ouantity (units Sper Unit Sept 1 Opening balance 1,000 $1.35 24 Sept 8 Purchase #1 $1.50 Sept 10 Sale #1 6,000 $ 2.50 Purchase #2 9,000 $1.75 Sept 21 Purchase #3 1,500 S 1.85 Finish atten Sept 28 Sale #2 12.000 $ 3.00 Time len 1 At September 30th, a physical inventory count showed 1800 units of inventory on hand. REQUIRED: For each method listed, calculate Cost of Goods Sold (COGS) and ending inventory (el) that will be reported on the September 30 financial statements after all adjustments are made. Be sure to show BOTH the physical #units in inventory as well as total dollars. Sept 14 a) Periodic System with a FIFO cost flow assumption. P a) Periodic System with a FIFO cost flow assumption. 7 B I E E Description #units SCost/unit - Total Cost (S) b) Perpetual System with a moving weighted average cost flow assumption (Note: Calculate all per unit costs to 4 decimal places.) 7 . B I E E #units X SCost/unit = Total Cost