CP 6‐1 Laplante Inc. uses the perpetual inventory system. The following...

CP 6‐1 Laplante Inc. uses the perpetual inventory system. The following transactions took place during January 2019 Date Units Unit Cost Jan. 1 Opening Inventory 100 $1 7 Purchase #1 10 2 9 Sale #1 80 21 Purchase #2 20 3 24 Sale #2 40 Required: Using the table below, calculate cost of goods sold for the January 9 and 24 sales, and ending inventory under the following inventory cost flow assumptions: 1. FIFO 2. LIFO 2. Weighted average. Purchased Sold Balance in Inventory Date Units Unit Cost Total $ Units Unit Cost Total $ Units Unit Cost Total $ Jan. 1 100 $1 $100 7 9 21 24