Adriaan Taylor Corporation is a newly formed entity that engages in the purchase and resale of amphibious tour vehicles. Purchases for the first year of operation were as follows:
		Date	Transactions	Amounts
		1-Jan	Beginning Inventory	50 units @ $15 each
		20-Feb	Sales	20 units @ $20 each
		15-Mar	Purchases	70 units @ $16each
		16-Jun	Purchases	30 units @ $16.50 each
		31-Jul	Sales	80 units @ $21 each
		3-Aug	Purchases	90 units @ $17 each
		4-Aug	Sales	80 units @ $25 each
	(a) If Adriaan Taylor uses the first-in, first-out (FIFO) inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold?
			Purchases			Cost of Sales			Ending Inventory Cost
	FIFO		Units	$$$	Total	Units	$$$	Total	Units	Total	Cost
	(b) If Adriaan Taylor uses the last-in, first-out (LIFO) inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit?
			Purchases			Cost of Sales			Ending Inventory Cost
	LIFO		Units	$$$	Total	Units	$$$	Total	Units	Total	Cost
	(c) If Adriaan Taylor uses the weighted-average inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold?
			Purchases			Cost of Sales			Ending Inventory Cost
	Average Cost		Units	$$$	Total	Units	$$$	Total	Units	Total	Average Cost
		FIFO			LIFO			Partial Income Statement Average Cost
		Sales			Sales			Sales
		Cost of Units Sold			Cost of Units Sold			Cost of Units Sold
		Gross Profit			Gross Profit			Gross Profit