Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 60 units at $80 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 202-unit purchase at $91 per unit; the second was a 240-unit purchase at $96 per unit. During the period, it sold 336 chairs.

RequiredDetermine the amount of product costs that would be allocated to cost of goods sold and ending

inventory, assuming that Cortez uses

a.FIFO:

1. FIFO Units Unit Cost Cost of Goods Sold

2. FIFO Units Unit Cost Ending Inventory

b.LIFO:

LIFO Units Unit Cost Cost of Goods Sold

LIFO Units Unit Cost Ending Inventory

c.Weighted average:

Cost of goods sold units @ =

Ending inventory units @ =