Kane Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $160 per unit. During the year, purchases were as follows:

Kane uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand.
Instructions
(a) Determine the cost of goods available for sale.
(b) Determine the cost of the ending inventory and the cost of the goods sold using (1) FIFO and (2) average cost. (Use unrounded numbers in your calculation of the average unit cost but round to the nearest cent for presentation purposes in your answer.)

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Units Unit Cost Total Cost Mar. 15 700$150 $105,000 July 20 500 145 72,50o Sept.4450135 60,750 12512.500 Dec. 2 100