$\backslash ($ A B C $\backslash )$ Company uses the perpetual inventory system. Below are the details of its inventory transactions for December $2024.$ Calculate the cost of goods sold $($COGS$)$ and ending inventory using the FIFO and Weighted Average System $($WAS$)$ methods. Inventory Transactions for December $2024$ Answer Format:

FIFO Method

Date

Dec $1$

Dec $5$

Dec $10$

Dec $15$

Dec $20$

Dec $25$ Weighted Average System $($WAS$)$:

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|\}$

$\backslash$hline Date & Purchases $(\backslash$$$)$ & Cost of Sales $($COGS$)(\backslash$$$)$ & Ending Inventory $(\backslash$$$)\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

Summary of Results:

$\backslash$begin$\{$tabular$\}\{|$c$||$c$|$c$|\}$

$\backslash$hline Method & COGS & Ending Inventory $\backslash \backslash$

$\backslash$hline $\backslash$hline FIFO & & $\backslash \backslash$

$\backslash$hline $\backslash$hline WAS & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$