1. Using the FIFO, LIFO, and average cost methods, compute the ending inventory and cost of goods sold.?

-1. Using the FIFO, LIFO, and average cost methods, compute the ending inventory and cost of goods sold. (Use four decimal places for per unit calculations and round all other numbers to the nearest dollar.) Units Cost per unit total Cost

begin inventory : 500 9 4500

purchase1 1/28 1600 9.60 15360

purchase2 5/2 1200 10.30 12360

purchase3 8/13 1400 10.80 15320

purchase4 11/9 1100 11.10 12210

total purchases 5300 55050

goods available for sale 5800 59550

less: sales 5240

ending inventory 560





FIFO LIFO Average cost

Cost of ending inventory $ $ $

Cost of goods sold $ $ $