Question: From the data above, calculate the COGS and ending inventory based on each of the following cost formulas. Assume that perpetual inventory records are kept.
Some of the information found on a detailed inventory card for Humber brands Ltd. for July is as follows: \begin{tabular}{|l|l|l|l|} \hline Date & Received & Unit Cost & Units sold \\ \hline July & \#Units & $ & # \\ \hline \end{tabular} \begin{tabular}{|r|r|r|r|} \hline 1 & 1150 & $2.90 & \\ \hline 4 & 1050 & $3.00 & \\ \hline 7 & & & 700 \\ \hline 10 & 700 & $3.20 & \\ \hline 14 & & & 500 \\ \hline 18 & 1000 & $3.30 & 300 \\ \hline 20 & & & 1100 \\ \hline 23 & 1300 & $3.40 & \\ \hline 26 & & & 900 \\ \hline 28 & 1700 & $3.60 & 1300 \\ \hline 31 & & & \\ \hline \end{tabular}
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