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	150	units @	$30	per unit
	12	Purchased	100	units @	$35	per unit
	16	Sold	180	units.
	24	Purchased	170	units @	$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.

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