A company sells a single product and had the following beginning inventory, purchases, and sales during March. 
Calculate the cost of the ending inventory under each assumption below:(1)The company uses a periodic inventory system and determines cost on aFIFO basis.Ending inventory cost ____________(2)The company uses a periodic inventory system and determines cost on a weighted average basisEnding inventory cost ____________
Definitions:
Social Proof
A mental phenomenon in which individuals mirror the behaviors of others, believing it to be the appropriate response for a particular scenario.
Advertiser
A person or organization that promotes products, services, or ideas through various forms of media to attract customers or supporters.
Effectiveness
The degree to which something is successful in producing a desired or intended result.
Efficiency
The ability to accomplish a task or goal with the minimal waste of time, effort, and resources.
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