Assume that a retailer's beginning inventory and purchases of a popular item during January included

(1) 300 units @ $7 in beginning inventory on January 1

(2) 450 units @ $8 purchased on January 8

(3) 750 units at $9 purchased on January 29

The company sold 350 units on January 12 and 550 units on January 30.

To Do:

Calculate the cost of goods sold for the month of January under the following methods:

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(a) FIFO (periodic calculation)

(b) FIFO (perpetual calculation)

(c) LIFO (periodic calculation)

(d) LIFO (perpetual calculation)

(e) Average-Cost (periodic calculation)

(f) Average-Cost (perpetual calculation)