Clor Company uses a periodic inventory system. At December 31, 2017, the accounting records provided the following information for Product 1:

	Units	Unit Cost
Inventory, December 31, 2016	3,000	$	8
For the year 2017:
Purchases, March 31	5,000		9
Purchases, August 1	2,000		7
Inventory, December 31, 2017	4,000

Required:

Compute the cost of sales and the ending inventory under the FIFO and weighted-average costing methods.