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Referencing Styles : Open GGG Pty. Ltd. uses a periodic inventory system. GGG had the following records during the month of September: Date Description Units Unit Cost Total CostSept 1 Beginning inventory 5,000 $2.00 $10,000Sept 13 Inventory purchased 8,000 $2.40 $19,200Sept 21 Inventory pur … View More GGG Pty. Ltd. uses a periodic inventory system. GGG had the following records during the month of September: Date Description Units Unit Cost Total Cost Sept 1 Beginning inventory 5,000 $2.00 $10,000 Sept 13 Inventory purchased 8,000 $2.40 $19,200 Sept 21 Inventory purchased 7,000 $2.60 $18,200 Total 20,000 $47,400 GGG sold 14,000 units during the month. Required: Calculate inventory on 30th September and COGS for the month using each of the following inventory costing methods: a. FIFO method (show your workings): Read Less

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