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Calculate the cost of goods sold and ending inventory

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Question - The table below shows the beginning inventory, purchase and sales of the Hill-fort Company's single product over the financial year 2021.

Opening balance (January 1) 10 units @ $100

Purchase (February 10) 40 units @ $110

Sales (March 2 - June 30) 35 units @ $160

Purchase (July 1) 50 units @ $130

Sales (July 2 - December 31) 45 units @ $170

Required - Calculate the Cost of Goods Sold and Ending Inventory for Hillfort Company for the year ended December 31, 2021 under the Periodic and Perpetual Inventory Systems.

Reference no: EM133088701

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