As an accountant for Lee Company, your supervior gave you the following calculations of the gross profit for the first quarter:

Alternative	sales ($50 per unit)	COGS	Gross Profit
A	$500,000	$200,000	$300,000
B	500,000	228,000	272,000
C	500,000	213,333	286,667

The three alternativecost flow assumptions are FIFO, average, and LIFO ( the alternatives are not necessarily presented in this sequence). Lee uses the periodic invneory system. The computation of the cost of goods sold under each alternative is based on the following data:

	Units	Cost/Unit
Invneotory, January 1	12,000	$20
Purchase, January 10	4,000	21
Purchase, January 15	6,000	22
Purchase, March 10	8,000	23

Required:

Prepare schedules computing the ending inventory (in units and dollars) and proving the cost of goods sold shown here under each of the three alternatives.