ACD Company was formed on December 1, 2018. The following information is available from ACD's inventory record for Product X.

Units Unit Cost

January 1, 2019 (beginning inventory) 1,600 18.00

Purchases:

January 5, 2019 2,600 20.00

January 25, 2019 2,400 21.00

February 16, 2019 1,000 22.00

March 15, 2019 1,800 23.00

A physical inventory on March 31, 2019, shows 2,500 units on hand.

Instructions

Prepare schedules assuming the periodic method to compute the 1/cost of goods sold and 2/the ending inventory at March 31, 2019, under each of the following inventory methods:

(a) FIFO.

(b) Weighted-average.

(c) LIFO.