1.

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date	Transaction	Number of Units	Cost per Unit
	1/1	100	$800
5/5	Purchase	200	$900
8/10	Purchase	300	$1,000
10/15	Purchase	200	$1,100

During the year, Lauer sold 750 laptop computers. (a) What was ending inventory and cost of goods sold using the FIFO cost flow assumption?

(b) What was ending inventory and cost of goods sold using the LIFO cost flow assumption?

(c) What is ending inventory and cost of goods sold using the average cost method?