1. ABC Company's the beginning inventory and purchases of Item X in January are as follows:

Item X Units Cost

Jan. 1 Inventory 100 $20

10 Purchase 80 21

30 Purchase 100 22

Furthermore, the physical count on January 31 shows that 150 units are on hand. Based on this information determine;

1. The cost of ending inventory usingFirst-In, First-Out Method
2. The cost of ending inventory usingLast-In, First-Out Method
3. The cost of ending inventory using Average cost method