The Party Store had the following series of transactions for 2013:
![1040_264-B-M-A-I (1871).png](https://secure.tutorsglobe.com/CMSImages/1040_264-B-M-A-I (1871).png)
Required:
a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Party Store uses the FIFO cost flow assumption and keeps perpetual records.
b. Write a memo explaining why The Party Store, would have difficulty applying the weighted average method on a perpetual basis.