Felton Ltd’s inventory transactions for November 2019 were as shown below.

Required

(a) Using the information shown and assuming no losses of inventory, if Felton Ltd uses the periodic inventory system with the FIFO cost flow method, what would be the cost of sales for November 2019.

(b) Using the information shown, if Felton Ltd uses the perpetual system with the moving average cost flow method, what would be the unit cost of the 23 November sale?

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Date Transaction No. Nov. 1 Inventory on hand 6 Purchase 10 Sale 14 Purchase 18 Purchase return 23 Sale 88888 170 12.00 90 90 13.00 50 Unit cost $11.00 Total cost $ 550.00 2040.00 1170.00 30 13.00 390.00 135 28 Sale return (on 23 November sale) 15