help on number 15 a and b

Beginning inventory 100 units $ 5 Purchases (in order from first to last): 140 units @ $7 200 units @ $8 160 units @ $8.50 Sales for the period were 530 units. (a) Compute the inventory balance and the cost of goods sold at the end of the account ing period using average cost, FIFO, and LIFO. (b) Which method shows the highest ending inventory? (c) Which method shows the highest cost of goods sold? (d) Explain why ending inventory and cost of goods sold differ under the three methods of inventory valuation, 2.15. Temasek Holdings PLC is a retailer of a patented drug. The following schedule shows the inventory status, purchases, and sales for the current year: Number of Units Unit Cost Sale Price $ 3.00 3.50 $ 4.50 4.00 January 1 January 15 Jahuary 1-March 31 April 27 April 1-June 30 July 10 July 1-September 30 October 17 October 1-December 31 Inventory Purchase Sales Purchase Sales Purchase Sales Purchase Sales 12,500 4,000 5,500 7,500 11,000 6,000 3,000 8,000 9,000 5.50 5.00 6.00 5.00 6.50 CHAPTER 2 The Balance Sheet 99 (a) Calculate the inventory balance in dollars and the cost of goods sold at the end of the year using the FIFO, LIFO, and average cost methods. (b) (b) Discuss the effect of each method on the balance sheet and income statement, 2.16. The following information is available for Chemco Inc's inventories as of June 30, 2015: (in Thousands) 2015 2014 Finished goods Work in process Raw materials and supplies Inventories at current cost Less LIFO valuation $382,925 76,524 72,246 531,695 (83,829) $303,249 60,588 49,844 413,681 (88,368)