1. Carleton Company reported the following information related to inventory and sales:

Units Cost per Unit

Beginning Inventory 3,000 $14.00

Purchase No. 1 7,000 $15.00

Purchase No. 2 4,000 $17.00

14,000

Sales = 10,000 units at $25 per unit

Compute the dollar value of the following assuming a periodic inventory system:

Inventory Method	Ending Inventory (cost, not units)	Sales Revenue	Cost of Goods Sold	Gross Profit (Gross Margin)
Weighted Average
FIFO
LIFO