QUESTION $2.$ Using the following information, calculate the Ending Inventory balance and Cost of Goods Sold using the Weighted Average and FIFO methods.

A company uses a perpetual inventory system and reports purchases and sales data for its only product. There are $245$ units in ending inventory.

$\backslash$table$[[$Date$,$Activity,$\backslash$table$[[$Number of$],[$Units$]],\backslash$table$[[$Cost per$],[$Unit$]],$Total Cost,$\backslash$table$[[$Number of$],[$Units$]],$Price,Total Sales,$],[$May $1,\backslash$table$[[$Beginning$],[$Inventory$]],155,$$$8\mathrm{.}00,$$$1,240,,,,],[$May $7,$Sale,,,,,$115,$$$17\mathrm{.}00,$$$1,955$