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:

April 1 Beginning Inventory 200 units @ $1

5 Purchases 200 units @ $2

8 Sales 300 units

10 Purchases 200 units @ $3

15 Purchases 200 units @ $4

18 Sales 300 units

20 Purchases 200 units @ $5

25 Purchases 200 units @ $6

28 Sales 300 units

Compute the proper cost to be assigned to ending inventory, cost of goods sold, and gross profit under each of these methods using the periodic system:

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

Must show calculations