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). (Round answers to 0 decimal places, e.g. 1,250.)

		FIFO		LIFO		AVERAGE-COST
The ending inventory		$Enter a dollar amount		$Enter a dollar amount		$Enter a dollar amount
The cost of goods sold		$Enter a dollar amount		$Enter a dollar amount		$Enter a dollar amount

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(c)

Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement?

(1)		Select a cost flow method FIFOLIFOAverage-cost results in the highest inventory amount, $Enter a dollar amount .
(2)		Select a cost flow method FIFOLIFOAverage-cost produces the highest cost of goods sold, $Enter a dollar amount .