Inventory Costing MethodsPerpetual Method

The Luann Company uses the perpetual inventory system. The following July data are for an item in Luanns inventory:

July	1	Beginning inventory	30	Units@	$9	per unit
	10	Purchased	50	Units@	$11	per unit
	15	sold	60	Units
	26	Purchased	25	Units@	$13	per unit

Calculate the cost of goods sold for the July 15 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-Avarge cost:
	Cost of goods sold:	$ ?