During July 20x1, Toan, Inc., sold 250 units of its product Velt for $4,000. The following units were available:

A sale of 100 units was made after purchase 1, and a sale of 150 units was made after purchase 4. Of the units sold, 100 came from beginning inventor)' and 150 from pur- chases 3 and 4.
Determine cost of goods available for sale and ending inventor)' in units. Then determine the costs that should be assigned to cost of goods sold and ending inventor)- under each of the following assumptions: (1) Costs are assigned under the periodic inventory system using

(a) the specific identification method,

(b) the average-cost method,

(c) the FIFO method, and

(d) the LIFO method. (2) Costs are assigned under the perpetual inventor)- system using

(a) the average-cost method,

(b) the FIFO method, and

(c) the LIFO method. For each alternative, show the gross margin. Round unit costs to cents and totals to dollars.

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Units Cost Beginning inventory 100 $2 Purchase 1 40 4 Purchase 2 60 6 Purchase 3 70 8 Purchase 4 80 10 Purchase 5 90 12