Inventory Costing Methods

Spiegel Department Store has the following data for inventory, purchases, and sales of merchandise for December: Spiegel uses a periodic inventory system. All purchases and sales are for cash.

Required:

$1.$ Compute cost of goods sold and the cost of ending inventory using FIFO. If required, round your answers to the nearest cent.

Cost of goods sold $$\_\_\_\_\_\_$

Cost of ending inventory $$\_\_\_\_\_$

$2.$ Compute cost of goods sold and the cost of ending inventory using LIFO. If required, round your answers to the nearest cent.

Cost of goods sold $$\_\_\_\_\_\_$

Cost of ending inventory $$\_\_\_\_\_$

$3.$ Compute cost of goods sold and the cost of ending inventory using the average cost method. $($Note: Use four decimal places for per$-$unit calculations.$)$ Round your answers to the nearest cent.

Cost of goods sold $$\_\_\_\_\_\_$

Cost of ending inventory $$\_\_\_\_\_$