View Policies Current Attempt in Progress Ivanhoe Company uses a perpetual inventory system and reports the following inventory transactions for the month of July: Unit Cost $12.00 13.50 Units 150 230 (250) 490 Total Cost $1,800.00 3.105.00 July 1 Inventory 12 Purchases 20 Sale 28 Purchases 14.00 6,860.00 Calculate the cost of goods sold and ending inventory under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, eg. 5.27 and final answers to 2 decimal places, e.g. 5,275.75.) FIFO Weighted average $ $ Cost of goods sold $ $ Ending inventory Calculate the cost of goods sold and ending inventory under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, eg, 5.27 and final answers to 2 decimal places, eg. 5,275.75.) FIFO Weighted average Cost of goods sold $ Ending inventory $ e Textbook and Media Which cost formula gives the higher ending inventory? cost formula gives the higher ending inventory. Which cost formula gives the higher ending inventory? w cost formula gives the higher ending inventory e Textbook and Media Which cost formula results in the higher cost of goods sold? cost formula results in the higher cost of goods sold. e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later