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Culver Corporation uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold. Date Explanation

Culver Corporation uses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold.

Date

Explanation

Units

Unit Cost

Total Cost

May 1 Inventory

30

$9

$270

15 Purchase

27

11

297

24 Purchase

37

13

481

Total

94

$1,048

Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round average unit cost to 2 decimal places, e.g. 2.51 and final answers to 0 decimal places, e.g. 125.)

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