Calculating the Value of Ending Inventory and Cost of Goods Sold: Perpetual Method. Consider the following inventory data for the first two months of the year for CompX International:

	Total Units	Unit Cost	Total Cost
Beginning inventory on hand
January 1	60,000	$3.00	$180,000
Purchases during month
January 5	103,600	3.00	310,800
January 20	293,900	3.20	940,480
	457,500		$1,431,280
Sales of inventory
January 25	383,900
Beginning inventory at
February 1	73,600
Purchases during month
February 8	282,200	3.40	$959,480
February 23	153,500	3.60	552,600
	509,300
Sales of inventory
February 27	407,600
Ending Inventory	101,700

Required 1. Calculate the cost of goods sold and ending inventory for January and February under each of the following methods, assuming use of a perpetual inventory management system. Round all answers to the nearest whole number.

		January			February
		Cost of Goods Sold	Ending Inventory		Cost of Goods Sold	Ending Inventory
a.	FIFO	Answer	Answer		Answer	Answer
b.	LIFO	Answer	Answer		Answer	Answer
c.	Weighted-average*	Answer	Answer		Answer	Answer

*Do not round until your final answers.

2. Assume that the replacement cost of CompX International's ending inventory is $3.1 per unit on January 30 and $3.5 per unit on February 28. Using the LCM method, calculate the value of the ending inventory for January and February under each of the following methods. Round all answers to the nearest whole number.

		January	February
a.	FIFO	Answer	Answer
b.	LIFO	Answer	Answer
c.	Weighted-average	Answer	Answer