At May 1, 2021, Lucy's Lumber had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purchased inventory as follows: 400 units at $7 = 2,800 600 units at $8 = 4,800 The company sold 1,000 units during the month at a sales price of $12 per unit. 3. Using the FIFO costing method, the cost of goods sold for the month of May is: 4. Using the LIFO costing method, the value of ending inventory at May 31 is: 5. Using the average costing method, gross profit for the month of May is