Inventory Costing Methods$-$Perpetual Method Fortune Stores uses the perpetual inventory system for its merchandise inventory. The $$pril $1$ inventory for one of theInventory Costing Methods$-$Perpetual Method

Using the data below, assume that Portet Corporation

uses the perpetual inventory system. Calculate the

value of ending inventory and cost of goods sold at

year$-$end using the perpetual method and $($a$)$ first$-$in$,$

first$-$out, $($b$)$ last$-$in$,$ first$-$out, and $($c$)$ weighted$-$average

cost method. Round the cost per unit to $3$ decimal

places and round your final answers to the nearest

dollar.

items in the merchandise inventory consisted of $120$ units with a unit cost of $$395.$ Transactions for this item during April were as follows:

Required

a$.$ Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted$-$average cost method. Do not round until your final answers.

Round your final answers to the nearest dollar.

b$.$ Calculate the cost of goods sold and the ending inventory cost for the month of April using the first$-$in$,$ first$-$out method.

c$.$ Calculate the cost of goods sold and the ending inventory cost for the month of April using the last$-$in$,$ first$-$out method.

a$.$ Weighted Average