Refer to the information in E6-2B and assume the perpetual inventory system is used. Calculate the cost of goods sold for the May 16 sale using

(a) first-in, first-out,

(b) last-in, first-out, 

(c) the weighted-average cost method. Round your final answers to the nearest dollar.

Exercise E6-2B

Mary Company uses the periodic inventory system. The following May data are for an item in Mary's inventory:

May 1 Beginning inventory, 150 units \(@ \$ 30\) per unit.

12 Purchased 100 units \(@ \$ 35\) per unit.

16 Sold 180 units.

24 Purchased 170 units \(@ \$ 40\) per unit.

Calculate the cost of goods sold for May and ending inventory at May 31.