Inventory Cost Flow Alternatives Lehi Wholesale Distributors buys printers from manufacturers and sells them to office supply stores. During January 2009, its periodic inventory records showed the following:

Jan. 1 Beginning inventory consisted of 26 printers at $200 each.

10 Purchased 10 printers at $220 each.

15 Purchased 20 printers at $250 each.

28 Purchased 9 printers at $270 each.

31 Sold 37 printers.

Required:

Calculate ending inventory and cost of goods sold, using:

1. FIFO inventory.

2. LIFO inventory.

3. Average cost.