Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $4 $ 400 1/20 Purchase 300 $5 1,500 7/25 Purchase 200 $7 1,400 10/20 Purchase 350 $8 2,800 11/10 Purchase 200 $9 1,800 12/15 Purchase 400 $10 4,000 1,550 $11,900

850 units were sold during the year. Ending Inventory is___________units. Instructions Answer the following independent questions and show computations supporting your answers.

Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $__________. The value of COGS at 12/31 is _______________.

Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is $__________. The value of COGS at 12/31 is _______________.

Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $__________. The value of COGS at 12/31 is _______________.

For the LIFO method, show a proof of the balance of Cost of Goods Sold.