Inventory Costing MethodsPeriodic Method

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

		Units	Unit Cost
Beginning Inventory		200	$10
Purchases:	Feb. 11	500	14
	May 18	400	16
	Oct. 23	100	22

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.