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Using a periodic system and the weighted average method, calculate the cost of the closing inventory on 30 June and the cost of sales for the year

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Using a periodic system and the weighted average method, calculate the cost of the closing inventory on 30 June and the cost of sales for the year. Show all your calculations.

2.2      Using a perpetual system and the FIFO method, determine the cost of the closing inventory and the cost of sales for the year. Use a table to answer the question and show all your calculations.

The following information relates to the inventory of a bookseller in the records of BCD Books Ltd.

2.1      Weighted average method: Periodic

2.2      FIFO: Perpetual