1. During April, Wiggins Company sold 900 units of Product X for $10 per unit.Its beginning inventory, purchases, and sales during the month were as follows:

April1Beginning Inventory200 units @ $1

5Purchases200 units @ $2

8Sales300 units

10Purchases200 units @ $3

15Purchases200 units @ $4

18Sales300 units

20Purchases200 units @ $5

25Purchases200 units @ $6

28Sales300 units

It was further noted that the ending inventory consisted of 100 units each of April 10^th, April 15^th, and April 25^th purchases (use this data for the Specific Identification Method only).Compute the proper cost to be assigned to ending inventory, cost of goods sold, and gross margin under each of these methods using the periodic system:

(a) Average cost, (b) FIFO, and (c) LIFO.

You must show your calculations to receive full credit.