Inventory Costing Methods

Morrison Inc. reported the following information for the month of October:

Inventory, October 1		58 units @ $26
Purchase:
October 7		52 units @ $27
October 18		72 units @ $29
October 27		42 units @ $31

During October, Morrison sold 143 units. The company uses a periodic inventory system.

Required:

What is the value of ending inventory and cost of goods sold for October under the following assumptions.

Assumption	Cost of Goods Sold	Ending Inventory
1. Of the 143 units sold, 49 cost $26, 36 cost $27, 54 cost $29, and 4 cost $31.	$	$
2. FIFO	$	$
3. LIFO	$	$
4. Weighted average method (Round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.)	$	$