Alternative Inventory Methods

Garrett Company has the following transactions during the months of April and May:

Date Transaction Units Cost$/$Unit

April $1$ Balance $500$

$17$ Purchase $200$ $$5\mathrm{.}10$

$25$ Sale $150$

$28$ Purchase $1005\mathrm{.}70$

May $5$ Purchase $2505\mathrm{.}10$

$18$ Sale $300$

$22$ Sale $50$

The cost of the inventory on April $1$ is $$5,$ $$4,$ and $$2$ per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions.

Required:

$1.$ Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives: