1. ANC reported the following data: Beginning inventory, 500 units at P2.40 each. Purchased on January 7, 2020: 1,000 units at P3.00 each. Sold 1,200 units. Using FIFO, what is the amount of inventory on January 31? . 2. ANC Company had the following transactions: Beginning inventory, 200 at P5 per unit; purchased on January 15, 2020, 100 at P5.30; purchased on January 28, 2020, 100 at P5.50. On January 20, 2020, 250 units were sold. Using moving average method, what is the cost of goods sold? *