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Information about Spiceland Companys inventory of one item follows. Explanation Number of Units Unit Cost Beginning inventory, January 1 230 $ 365 Purchases: April 270

Information about Spiceland Companys inventory of one item follows.

Explanation Number of Units Unit Cost
Beginning inventory, January 1 230 $ 365
Purchases:
April 270 370
August 190 375
October 240 377
Ending inventory, December 31 230

  1. Compute the cost of the ending inventory under the average cost method.
  2. Compute the cost of the ending inventory under the FIFO method.
  3. Compute the cost of the ending inventory under the LIFO method.

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