3. (TCO 7) Cain Company had the following inventory data for the current month.

	Units	Unit Price	Total
Inventory 12/1/13	25	$ 55	$ 1,375
Purchase	35	$ 65	$ 2,275
Purchase	25	$ 70	$ 1,750
Available for Sale	85		$ 5,400
Inventory 12/31/13	20
Quantity Sold	65

Compute cost of goods sold for each of the following methods: i. Average cost ii. First in, first out (FIFO) iii. Last in, first out (LIFO) (Points : 26)