1. Artic appliances use the periodic inventory system. Details regarding the inventory of appliances at January 1, 2010 purchases invoices during the year, and the inventory count at December 31, 2010 are summarized as follows:

Model	Inventory Jan 1	Purchases invoices			Inventory count December 31
		1st	2nd	3rd
BB900	27 at $213	21 at $215	18 at $222	18 at $225	30
C911	10 at $ 60	6 at $65	2 at $65	2 at $70	4
L100	6 at $305	3 at $210	3 at $316	4 at $317	4
N201	2 at $520	2 at $527	2 at $530	2 at $535	4
Q73	6 at $520	8 at $531	4 at $549	6 at $542	7
Z120	-	4 at $222	4 at $232	-	2
ZZRF	8 at $70	12 at $72	16 at $74	14 at $78	12

Required:

1. Determine the cost of the inventory on December 31, 2010 by the FIFO method. Present data in columnar form, using the following headings:

Model

Quantity

Unit Cost

Total Cost

If the inventory of a particular model comprises, one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase

2. Determine the cost of the inventory on December 31, 2010 by the LIFO method, using the following procedures indicated in (a)

Determine the cost of the inventory on December 31, 2010 by the average cost method, using the columnar headings indicated in (a)