The following data concerns inventory and purchases at Hinojosa Company.

INSTRUCTIONS
Determine the cost of the ending inventory on January 31 under each of the following methods: 

(a) Average cost method; 

(b) First-in, first-out (FIFO) method; 

(c) Last-in, first-out (LIFO) method. When using the average cost method, compute the unit cost to two decimal places.

Analyze: Which inventory valuation method resulted in the highest dollar amount for ending inventory?

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Inventory, January 1 Purchases: January 6 January 15 January 22 Inventory, January 31 100 units at $113 70 units at $112 54 units at $113 44 units at $106 100 units