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PLEASE INCLUDE ALL CALCULATIONS AND SHOW STEPS Colt Co., which uses a perpetual...

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PLEASE INCLUDE ALL CALCULATIONS AND SHOW STEPS

Colt Co., which uses a perpetual inventory system, recorded the following inventory transactions during the last two months of 2022 : Instructions A. Using the FIFO cost formula, calculate the cost of goods sold for the two months of November and December. Show calculations. (4 marks) B. Using the average cost formula, calculate the ending inventory at December 31. Show calculations and use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your

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