ABC Company provides you the following information related to the inventories for 6 months. Jan 1: Beginning Inventory 600 units @ Rs 10 each. Feb 9: Purchased 1,100 units @ Rs.12 each March16: Sold…

ABC Company provides you the following information related to the inventories for 6 months. Jan 1: Beginning Inventory 600 units @ Rs 10 each. Feb 9: Purchased 1,100 units @ Rs.12 each March16: Sold 1,500 units @ 15 each April 24: Purchased 500 units @ Rs.13 each May 27: Purchased 300 units @ Rs.14 each June 30: Sold 800 units @ Rs.17 each Required: a. Ending inventory and cost of goods sold under the FIFO and weighted average costing method b. Income statement showing net income, assume depreciation expenses Rs.5,000 and other operating expenses Rs.10,000. [6+4=10]