1. At the beginning of the current period, Steamboat Industries has 150 units of a product with a unit cost of $160. The inventory records report the following transactions:

	Units	Unit Cost	Cost
Beginning Inventory	150	$160	$24,000
Purchase #1	150	$176	26,400
Purchase #2	70	$190	13,300
Purchase #3	30	$210	6,300

During the current period, Steamboat Industries sells 360 units.

Assume Steamboat Industries uses the FIFO method. Compute the cost of goods sold for the current period and the ending inventory $ balance for this product.

Cost of Goods Sold Ending Inventory

Assume Steamboat Industries uses the LIFO method. Compute the cost of goods sold for the current period and the ending inventory $ balance for this product.

Cost of Goods Sold Ending Inventory

Assume Steamboat Industries uses the Average Cost method. Compute the cost of goods sold for the current period and the ending inventory $ balance for this product.

Cost of Goods Sold Ending Inventory

2. Assume Steamboat Industries uses the Average Cost method. Compute the cost of goods sold for the current period and the ending inventory $ balance for this product.

Cost of Goods Sold Ending Inventory