Problem Solving A company made the following purchases during the year: Jan. 10 15 units at $360 Mar. 15 25 units at $390 Apr. 25 10 units at $420 July 30 20 units at $450 Oct. 10 15 units at $480 On December 31, there were 27 units in ending inventory. These 27 units consisted of 4 from the January 10 shipment, 25 from the March 15 shipment, 10 from the April 25 shipment, 20 from the July 30 shipment, and 15 from the October 10 shipment. Using specific identification, calculate the cost of the ending inventory. A company sells a single product and had the following beginning inventory, purchases, and sales during March. Number of units Price per unit Beginning Inventory 20 8 March 6 Purchase 40 10 8 Purchase 50 9 10 Sale 45 13 12 Sale 35 13 30 Purchase 25 7 Calculate the cost of the ending inventory under each assumption below: (1) The company uses a periodic inventory system and determines cost on a FIFO basis. Ending inventory cost ____________ (2) The company uses a periodic inventory system and determines cost on a weighted average basis. (Round average cost per unit to 2 decimals.) Ending inventory cost ____________