Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 110 units at $50 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 178-unit purchase at $57 per unit; the second was a 216-unit purchase at $60 per unit. During the period, it sold 300 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO:

b. LIFO:

c. Weighted average: (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

Cost of Goods Sold FIFO Units Unit Cost From beginning inventory From first purchase From second purchase Total 110 @ S 178 @ 12 @ 300 50 571 = 60F 5,500 10,146 720 16,366 Ending Inventory FIFO Units Unit Cost 300 60$ 18,000 From second purchase Cost of Goods Sold LIFO Units Unit Cost From first purchase From second purchase Total Ending Inventory LIFO Units Unit Cost Total ending inventory 0 0 Cost of goods sold Ending inventory units @ units @