Open 4 130% Tools Fill & Sign Comment Question 4: Periodic Inventory, FIFO, Weighted Average Cost (6 marks) Transactions for Littlejohn Ltd. for the month of June were: Purchases June 1 (balance) 400 @ $3.20 June 2 3 1,100 @ 3.10 6 7 600 @ 3.30 9 15 900 @ 3.40 10 22 250 @ 3.50 18 25 Littlejohn uses the periodic inventory system. Sales 300 @ $5.50 800 @5.50 500 @ 5.50 200 @ 6.00 700 @ 6.00 150 @ 6.00 Required: a) What is the ending inventory balance in dollars if Littlejohn uses the FIFO inventory system? b) What is the ending inventory balance in dollars if Littlejohn uses the weighted average-cost basis (round to the nearest dollar)