Inventory 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.

b$.$ Last$-$In$,$ First$-$Out

c$.$ Weighted Average