Egnab Inc. shows the beginning inventory of a particular product, and the purchases during the current year, as follows:

Jan.	1	Beginning Inventory	550	units @	$100.00	=	$55,000
Mar.	8	Purchase	800	units @	$110.00	=	$88,000
Aug.	11	Purchase	600	units @	$120.00	=	$72,000
Oct.	23	Purchase	450	units @	$135.00	=	$60,750
	Total available for Sale		2400	units			$25,100

December 31^st, the ending inventory of this product consisted of 990 units.

Instruction: (show your calculations and round to 2 decimal places)

Determine the cost of the year-End Inventory and the Cost of Goods Sold for this product under each of the following Methods of Inventory Valuation:

	Inventory at Dec. 31st	Cost of Goods Sold
Average Cost
First-in, First-out
Last-in, First-out

If Egnab Inc. wants to achieve a low Owners Equity end of the year, which method should they choose? Explain fully your answer.