During June, the following changes in inventory item 27 took place:

June 1 Balance 1,100 units @ $40 8 Sold 600 units @ $75 14 Purchased 1,200 units @ $38 16 Sold 1,400 units @ $60 24 Purchased 700 units @ $45 29 Sold 800 units @ $68

Periodic inventories are maintained. Instructions

What is the cost of goods sold and the cost of the ending inventory for item 27 under the following methods? (Show calculations.) (a) FIFO (assume perpetual). (b) LIFO (assume perpetual). (c) Weighted Average (assume periodic)