(Compute FIFO, LIFO, and Average-Cost) Pillsbury Company's record of transactions concerning part WA6 for the month of September was as follows.

		Purchases
September	1	(balance on hand)	300@	$12.00
	3		200@	$12.10
	12		300@	$12.25
	16		300@	$12.30
	22		500@	$12.30
	26		300@	$12.40

	Sales
September	4	400
	17	600
	27	300
	30	200

Instructions:

(a) Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. Carry unit cost to the nearest cent.

(1) First-in, first-out (FIFO).

(2)Last-in, Last-out (LIFO).

(3) Average cost.

(b) If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory in (1),(2), and (3) above? Carry average unit costs to four decimal places.

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