Valley Soaps inventory (for one item) activity for April is shown below. Valley Soap uses...
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Valley Soaps inventory (for one item) activity for April is shown below. Valley Soap uses a perpetual inventory system: Date Transaction Units Unit cost 1 April Beginning inventory 14 $3.8 7 April Purchase 47 $3.3 9 April Sale 37 14 April Purchase 54 $3.9 30 April Sale 27 Required: a) Calculate the ending inventory and cost of each sale under the FIFO method. [5 marks] b) Calculate the ending inventory and cost of each sale under the weighted average method
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