Inventory Costing Methods: Periodic Inventory System (Appendices 6B) The inventory accounting records for Lee Enterprises contained the following data:

Beginning inventory 400 units at $8 each

Purchase 1, Feb. 26 2,300 units at $14 each

Sale 1, March 9 2,500 units at $27 each

Purchase 2, June 14 2,200 units at $15 each

Sale 2, Sept. 22 2,100 units at $29 each

Required:

Calculate the cost of ending inventory and the cost of goods sold using the FIFO, LIFO, and average cost methods. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)

FIFO	LIFO	Average cost
$	$	$
$	$	$