Inventory Costing Methods-Perpetual Method Merritt Company uses the perpetual inventory system. The following May data are for an item in Merritt's inventory:

May	1	Beginning inventory	170	unit@	$32	per unit
	12	Purchased	120	unit@	$37	per unit
	16	sold	190	unit@
	24	Purchased	180	unit@	$38	per unit

Calculate the cost of goods sold for the May 16 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.

Round your final answers to the nearest dollar. For weighted-average cost, do not round the weighted-average unit cost.

A	First-in, First-out:
	cost of goods sold:	$.
B	Last-in, first-out:
	cost of goods sold	$
C	Weighted-average cost:
	cost of goods sold:	$