Question: 0 Marks During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units @ 24 14 Purchased 900 units @

0 Marks During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units @ 24 14 Purchased 900 units @ 36 24 Purchased 700 units @ 30 8 Sold 400 units @ 50 10 Sold 1,000 units @ 40 29 Sold 500 units @ 44 Perpetual inventories are maintained in units only. Instructions What is the cost of the ending inventory for item 27 under the following methods? (Show calculations.) (a) FIFO. (b) Average Cost

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