cass # 5

Jones Company started the year with ao inwentory. During the yeat, it puichased two identical imentery items at different bines. The first purchase cost $1,230 and the other, $1,460 Jones sold one of the items during the year Required: Based on this information, how much product cost would be alocated to cost of goods sold and ending inventory an the year-end financial statements, assiaming use of following cost flow assumptions: a. FIFO? b. UIFO? c. Weighted average