All Signs Company uses a periodic inventory system. The companys accounting records for the most popular item in inventory showed the following details:

Transactions		Units			Unit Cost
Beginning inventory, April 1, 2018			800		$	15
Transactions during 2018:
a.	Purchase, May 20		1,200			16
b.	Sale, July 1 ($46 each)		(1,400	)
c.	Purchase, September 30		1,000			18
d.	Sale, November 1 ($46 each)		(200	)
e.	Sales return November 5 (relating to Transaction [d])		40

Required:

Compute the following amounts, under each of the below inventory costing methods. (Round your intermediate calculations to 2 decimal places.)

1.	Weighted-average cost.
2.	FIFO.
3.	Specific identification, assuming that the company is permitted to use it and that half of the units sold on July 1, 2018, were selected from the beginning inventory and the other half was taken from the purchase of May 20, 2018. Assume that the sale of November 1, 2018, was selected from the purchase of September 30, 2018.

4.	As a shareholder, which of these three methods would you prefer?
	multiple choice Weighted-average cost FIFO Specific identification