Data regarding Tyler corporations inventory are given in the following table.

Date Units Purchased Units Sold Units on Hand

January1 2000 @ $1.20

5 1,000 @ $1.30

9 1,100

22 500

29 300 @ $1.40

Required:

1. Compute Tyler Corporations ending inventory under the following independent assumptions:

1. LIFO method, periodic records are kept.

2. Average cost method, periodic records are kept.

3. FIFO method, perpetual records are kept.

4. LIFO method, perpetual records are kept.

2. Compute cost of goods sold assuming that inventory is completed as in (a1) above.