Time left $2$:$44$:$0$

Smart Corp. uses the periodic inventory system. Smart's inventory data for the month of Oct is as below:

Oct $1$ Beginning inventory

Oct $8$ Purchase

$400$ units @ $$10\mathrm{.}00$

$800$ units @ $$10\mathrm{.}40$

$600$ units @ $$10\mathrm{.}80$

$200$ units @ $$11\mathrm{.}60$

Oct $16$ Purchase

Oct $24$Purchase

Physical count of the ending inventory found $400$ units on hand on Oct $31.$

Calculate the ending inventory value using both the FIFO and the Weighted Average methods. $(10$ marks$)$

$7$

A

B

I

Sis