Concord Corporation has a beginning inventory on January 1 of 98 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made.

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods.

Mar. 15 260 units at $25 Sept. 4 228 units at $28 July 20 163 units at $26 Dec. 2 65 units at $31 650 units were sold. Concord Corporation uses a periodic inventory system