Calculating the Value of Ending Inventory and Cost of Goods Sold: Periodic Method. Keystone Consolidated, Inc. is a leading manufacturer of steel products. The following inventory data relates to the firm's production during the first quarter of 2010:

Date of Purchase	Tons of Raw Steel Purchased	Purchase Price per Ton	Total Cost
Jan 1	500	$44	$22000
Jan 15	700	39	27300
Feb 7	200	38	7,600
Feb 21	450	32	14,400
March 15	350	45	15,750
	2200		$87050

At the end of the first quarter of 2010, Keystone's internal auditors determined that 1,700 tons of raw steel had been processed and sold.

Required

1.Calculate the cost of steel processed and sold during the quarter under each of the following methods, assuming use of periodic inventory management systems: Round answers to the nearest whole number.

a.FIFO	$
b.LIFO	$
c.Weighted-average *	$

*Do not round until your final answer

2.Assume that the net realiable value per ton is $43 at the end of the quarter. What amount should Keystone's ending inventory be valued at on its March 31 balance sheet under each of the following methods?Round answers to the nearest whole number.

a.FIFO	$
b.LIFO	$
c.Weighted-average *	$

*Do not round until your final answer