Inventory Costing Methods$$Periodic Method

The following information is for the Bud Company for the year; the company sells just one product:

Units Unit Cost

Beginning Inventory $200$ $$10$

Purchases: Feb. $1150014$

May $1840016$

Oct. $2310022$

At year$-$end, there was an ending inventory of $340$ units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using $($a$)$ first$-$in$,$ first$-$out, $($b$)$ last$-$in$,$ first$-$out, and $($c$)$ the weighted$-$average cost method.

Do not round until your final answers. Round your answers to the nearest dollar.

A$.$ First$-$in$,$ First$-$out:

Ending Inventory

Cost of goods sold

B$.$ Last$-$in$,$ first$-$out:

Ending Inventory

Cost of goods sold

C$.$ Weighted Average

Ending Inventory

Cost of goods sold