On August 19, the company purchased another 1,000 cases at a cost of

$112 per case. (Assume that there was no beginning inventory.) Sales data for the welding rods are as follows:

Date Cases Sold May 2 200 June 29 600 July 2 50 Sept. 4 500 Oct. 31 420 Welding Products uses a perpetual inventory system and the sales price of the welding rods was $130 per case.

Required:

. Compute the cost of ending inventory and cost of goods sold using the FIFO method.

. Compute the cost of ending inventory and cost of goods sold using the LIFO method.

. Compute the cost of ending inventory and cost of goods sold using the average cost method. (Use four decimal places for per unit calculations and round all other numbers to the nearest dollar.)