Inventory Costing Methods-Perpetual Method Gleem Sales Corporation uses the perpetual inventory system. On January 1, 2012, Gleem had: 2,600 units of product B with a unit cost of $60 per unit. A summary of purchases and sales during 2012 follows:

	Unit Cost	Units Purchased	Units Sold
Jan. 3			1,600
Mar. 8	$46	3,000
June 13			2,000
Sept.19	52	800
Nov.23	57	1,200
Dec.28			1,800

Required a. Assume that Gleem uses the first-in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product B. b. Assume that Gleem uses the last-in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product B. c. Assume that Gleem uses the weighted-average cost method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product B. Do not round until your final answers. Round 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
	Ending Inventory	$Answer
	Cost of Goods Sold	$Answer