Assume that Gode Company reports the following initial balance and subsequent purchase of inventory:

Beginning inventory	1,000	units	@ $100 each	$100,000
Inventory purchased during the year	2,000	units	@ $150 each	300,000
Cost of goods available for sale during the year	3,000	units		$400,000

Assume that 1,500 units are sold during the year. Compute the cost of goods sold for the year and the balance reported as ending inventory on its year-end balance sheet under the following inventory costing methods: (Round your answers to the nearest dollar.)

a.	FIFO
	Cost of Good Sold	Answer
	Ending Inventory	Answer
b.	LIFO
	Cost of Good Sold	Answer
	Ending Inventory	Answer
c.	Average Cost (Hint: Do not round the cost per unit.)
	Cost of Good Sold	Answer
	Ending Inventory	Answer