A new restaurant purchased the following wine during the first month of operations:

March 2: Purchased 12 750ml bottles of M & B wine @ $13.00 each.

March 16: Purchased 24 750ml bottles of M & B wine @ $15.00 each

March 31: Sold 30 bottles during March @ $26 each.

Determine the value of the ending inventory and cost of sales for M & B for March using the following (4 points):

a. First-in, first-out method

b. Last-in, first-out method

c. Weighted average method