Calculate average-cost per unit.Tori Amos Corporation began operations on December 1, 2013. The only inventory transaction in 2013 was the purchase of inventory on December 10, 2013, at a cost of $36 per unit. None of this inventory was sold in 2013. Relevant information is as follows.

Ending inventory units
December 31, 2013				188
December 31, 2014, by purchase date
December 2, 2014		188
July 20, 2014		50		238

During the year 2014, the following purchases and sales were made.

Purchases						Sales
March 15		388 units	at	$43		April 10		288
July 20		388 units	at	45		August 20		388
September 4		288 units	at	50		November 18		238
December 2		188 units	at	54		December 12		288

The company uses the periodic inventory method.

Find the Average Cost.

Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost

Calculate price index

Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2014, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base-layer priced at $36 per unit.)