Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system.

August	1	Beginning inventory	210	units of Product A @	$2,900	total cost
	5	Purchased	230	units of Product A @	$3,416	total cost
	8	Purchased	330	units of Product A @	$5,716	total cost
	11	Sold	280	units of Product A

Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.

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

A. First-in, first-out
	Ending Inventory	Answer
	Cost of Goods Sold	Answer
B. Last-in, first-out
	Ending Inventory	Answer
	Cost of Goods Sold	Answer
C. Weighted-average cost
	Ending Inventory	Answer
	Cost of Goods Sold	Answer

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