Inventory Costing Methods$$Perpetual Method Fortune Stores uses the perpetual inventory system for its merchandise inventory. The April $1$ inventory for one of the items in the merchandise inventory consisted of $120$ units with a unit cost of $$325.$ Transactions for this item during April were as follows:

April $9$ Purchased $40$ units @ $$345$ per unit

$14$ Sold $80$ units @ $550$ per unit

$23$ Purchased $20$ units @ $350$ per unit

$29$ Sold $40$ units

Required

a$.$ Calculate the cost of goods sold and the ending inventory cost for the month of April using the weighted$-$average cost method.

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

Ending Inventory

Cost of goods Sold

b$.$ First$-$in$,$ First$-$out:

Ending Inventory

Cost of Goods Sold:

c$.$ Last$-$in$,$ first$-$out:

Ending Inventory

Cost of Goods Sold: