A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 18 units for $54 each.

1. Using the average inventory method, what was the cost of the 18 units sold?

$395

$410

$403

2. Using the FIFO inventory method, what was the cost of the 18 units sold?

$403

$395

$410

3. Using the LIFO inventory method, what was the cost of the 18 units sold?

$403

$410

$395

4. Using the LIFO inventory method, what was the cost of the 3 units remaining in inventory?

$67

$75

$60

5. Using the FIFO inventory method, what was the cost of the 3 units remaining in inventory?

$60

$75

$67

6. Using the average inventory method, what was the cost of the 3 units remaining in inventory?

$75

$67

$60