15 a. Clancy, Inc. has the following inventory information.

July 1 Beginning Inventory 20 units at $90

5 Purchases 120 units at $92

14 Sale 90 units

21 Purchases 60 units at $95

30 Sale 58 units

Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

$4,744

$5,860

$4,940

$6,346

Clancy has the following inventory information.

July 1 Beginning Inventory 20 units at $90

5 Purchases 120 units at $92

14 Sale 90 units

21 Purchases 60 units at $95

30 Sale 58 units

Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?

a. $4,744

b.$4,750

c.$4,940

d.$4,790

15b. For the Desai Corporation, units of an item available for sale during the year were as follows:

Nov. 1 Inventory 30 units @ $80 = $ 2,400

8 Purchase 120 units @ $83 = $ 9,960

17 Purchase 60 units @ $87 = $ 5,220

25 Purchase 90 units @ $88 = $ 7,920

300 units

There are 42 units of the item in the ending physical inventory at December 31. The periodic inventory system is used. Determine the dollar value of the 42 units of the ending inventory by (a) the FIFO (first-in, first-out) method, (b) the LIFO (last-in, first-out) method, and (c) the Average Cost method. Please show your work.