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

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

Apr. 3 Inventory 24 units @ $10

11 Purchase 26 units @ $12

14 Sale 36 units

21 Purchase 19 units @ $16

25 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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