In-Class Assignment -Chapter 7 Tale Company uses a perpetual inventory system and had the following beginning inventory and purchases during January, 2011: Date Jan1 Jan16 Jan20 Total Inventory Purchase Purchase Units 300 200 300 800 Unit Cost $14 $15 $16 Total Cost 4,200 3,000 4,800 12,000 Sales of units were as follows (all on credit): Jan15 Jan28 Total units sold 200 Units 460 Units 660 @$30 @$35 Required: . 1. Calculate the ending inventory and the cost of goods sold under a perpetual inventory system by applying each of the four different methods of inventory costing: FIFO Moving weighted average Required 1) Ending inventory 2) COGS 3) Gross Margin 4) Entries for inventory purchase and Sales