A corporation uses the periodic inventory system. On December 31, 2022, the accounting records the following inventory:

Transactions	Units	Unit Cost
Beginning inventory, Jan. 1	400	300
Transaction during the year
Purchase, Jan 30	300	340
Purchase, May 1	460	400
Sales for 2022 (sold for 5.00 each)	(160)

Compute the ending inventory and cost of goods sold at Dec. 31, 2022 using costing method and round to the nearest peso:

a. Average cost

b. First-in, first-out

c. Last-in, last-out