Inventory Flow Assumptions
Flat TV Uses a Perpetual Inventory System

Inventory flow assumptions
Flat TV uses a perpetual inventory system. Shown below are Flat TV's beginning inventory of a particular product and purchases during January:
$$\begin{array} { | l | l | r | r | r | } \hline & & \text { Quantity } & \text { Unit Cost (\$) } & \text { Total Cost (\$) } \\\hline 1 \text { Jan } & \text { Beginning irventory } & 6 & 1,950 & 11,700 \\\hline \text { 6 Jan} & \text { Purchases } & 12 & 2,250 & 27,000 \\\hline \text { 25 Jan} & \text { Purchases } & \underline { 12 } & 2,300 & \underline { 27,600 } \\\hline & \text { Total } & \underline { 30 } & & \underline { 66,300 } \\\hline\end{array}$$ On 23 January (prior to the purchase on 25 January), Flat TV sold 13 units of this product.
Determine the cost of goods sold relating to the sale on 23 January under each of the following flow assumptions. (Show your computations.)
(a) FIFO $__________________
(b) Weighted average cost (or moving average) $______________