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Beginning inventory and purchases and sales data for T-shirts are as follows: Apr. 3rd Inventory 24 units $10 11th Purchase 26 units $12 14th Sale

Beginning inventory and purchases and sales data for T-shirts are as follows:

Apr.

3rd Inventory 24 units $10
11th Purchase 26 units $12
14th Sale 36 units
21st Purchase 19 units $16
25th Sale 20 units

Assuming the business maintains a periodic inventory system, determine the cost of merchandise sold and ending inventory under the following assumptions:

a. FIFO

b. LIFO

c. Weighted average cost (round cost of merchandise sold and ending inventory to the nearest dollar)

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