Beginning inventory, purchases, and sales for an inventory item are as follows:

Purchases Cost of Goods Sold Inventory

Event Unit Cost Total Cost Unit Cost Total Cost Total Cost QTY Bought Qty sold Qty Unit Cost

Beginning Inventory 150 755

First Sale 120

First Purchase 400 785

Second Sale 200

Second Purchase 300 805

Sale 290

The firm uses the perpetual inventory system and there are 240 units of the item on hand at the end of the year

A. What is the total cost of ending inventory according to FIFO?

B. What is the cost of ending inventory according to LIFO?

C. What is the cost of ending inventory using weighted average cost. Round to the nearest dollar.