Clayton Company shows the following transactions for its major inventory item.

Date		Units	Unit Cost
Nov. 1	Inventory (beginning)	2,400	$6.90
Nov. 3	Purchase	4,800	7.20
Nov. 5	Sales (at $15)	3,200
Nov. 13	Purchase	4,000	7.50
Nov. 20	Sales (at $15)	7,200
Nov. 22	Purchase	8,800	7.66
Nov. 28	Sales (at $18)	7,200
Nov. 29	Purchase	4,800	7.80

Required Compute ending inventory, cost of goods sold, and gross prot using:

Gross Profit

Gross Profit
Periodic
	a. Average Cost	b. FIFO	c. LIFO
Sales	Answer	Answer	Answer
COGAS
Less Ending Inventory
COGS
Gross Profit	Answer	Answer	Answer

Gross Profit
Perpetual
		d. Moving Average	e. FIFO	f. LIFO
	Sales	Answer	Answer	Answer
	COGAS
	Less Ending Inventory
	COGS
	Gross Profit	Answer	Answer	Answer