Englehart Company has the following inventory, purchases, and sales data for the month of March.
Inventory: March 1 200 units @ $4.00 $ 800 Purchases:
March 10 500 units @ $4.50 2,250 March 20 400 units @ $4.75 1,900 March 30 300 units @ $5.00 1,500 Sales:
March 15 500 units March 25 400 units The physical inventory count on March 31 shows 500 units on hand.
INSTRUCTIONS Under a periodic inventory system, determine the cost of inventory on hand at March 31 and the cost of goods sold for March under

(a) the fi rst-in, fi rst-out (FIFO) method;

(b) the last-in, fi rst-out (LIFO) method; and

(c) the average-cost method. (For average-cost, carry cost per unit to three decimal places.)