1). Compute ending inventory using FIFO and LIFO.

In its first month of operations, Rusch rnCompany made three purchases of merchandise in the following sequence: 

(1) 300 units at $6, 

(2) 400 units at $7, and 

(3) 200 units at $8. 

Assuming there are 450 pounds on hand, compute the cost of the ending inventory under the 

(a) FIFO method and 

(b) LIFO method. 

Rusch uses a periodic inventory system.

2). Compute the ending inventory using average-cost.

Data for Rusch Company are presented in 1. Compute the cost of the ending inventory under the average-cost method, assuming there are 450 pounds on hand. (Round average cost per unit to nearest cent.)