Hansen Company uses the periodic inventory method and had the following inventory information available:

UnitsUnit CostTotal Cost

1/1Beginning Inventory100$3$300

1/20Purchase500$42,000

7/25Purchase100$5500

10/20Purchase300$61,800

1,000$4,600

A physical count of inventory on December 31 revealed that there were 375 units on hand.

Instructions: Answer the following independent questions and show computations supporting your answers.

1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $__________.
2. Assume that the company uses the average cost method. The value of the ending inventory on December 31 is $__________.
3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $__________.