Question: Fun House Limited uses a perpetual inventory system. Inventory data for the year ended December 31, 2019, are as follows: Beginning inventory February 28 purchase

Fun House Limited uses a perpetual inventory system. Inventory data for the year ended December 31, 2019, are as follows: Beginning inventory February 28 purchase 1st quarter sales July 31 purchase 2nd quarter sales October 31 purchase 40 units at $125 each 25 units at $130 each 50 units 55 units at $135 each 40 units 45 units at $145 each Required Determine the amounts to report for Cost of Goods Sold and Ending inventory using FIFO and the weighted average cost method

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