Computing Cost of Sales and Ending Inventory Stocken Company has the following financial records for the current period.

	Units	Unit Cost
Beginning Inventory	100	$ 26
Purchases: #1	650	22
#2	550	18
#3	200	16

Ending inventory is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first out, (b) average cost, and (c) last-in, first out.

(a) First-in, first-out
Ending inventory	$Answer
Cost of goods sold	$Answer
(b) Average cost
Ending inventory	$Answer
Cost of goods sold	$Answer
(c) Last-in, first-out
Ending inventory	$Answer
Cost of goods sold	$Answer