Douglas Company's beginning inventory and purchases during the fiscal year ended December 31, 20--, were as follows:

There are 1,000 units of inventory on hand on December 31.
REQUIRED
1. Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December 31 under each of the following methods:
(a) FIFO
(b) LIFO
(c) Weighted-average (round calculations to two decimal places)
2. Assume that the market price per unit (cost to replace) of Douglas's inventory on December 31 was $13. Calculate the total amount to be assigned to the ending inventory on December 31 under each of the following methods:
(a) FIFO lower-of-cost-or-market
(b) Weighted-averagelower-of-cost-or-market

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Unit Price Total Cost $ 8,800 Units January 1, 20-- March 5 April 16 June 3 August 18 September 13 November 14 December 3 Beginning inventory 1st purchase 2nd purchase 3rd purchase 4th purchase 5th purchase 6th purchase 1,100 $ 8.00 9.00 900 400 8,100 3,800 7,175 6,600 9,600 9.50 10.25 11.00 700 600 800 400 12.00 14.00 14.05 5,600 7,025 500 5,400 $56,700