Joe Poultry uses a periodic inventory system. Its beginning inventory on May 1 consisted of 300 units of Product A at a cost of $6.25 per unit. During May, the following purchases and sales were made.

Purchases						Sales
May	6	300		units at $7.20		May	4	275		units
14		400		units at $9.10			8	300		units
21		100		units at $11.50			22	400		units
28		500		units at $11.80			24	225		units
		1,300					1,200

Instructions: Compute the May 31 ending inventory and May cost of goods sold under (a) Average Cost, (b) FIFO, and (c) LIFO. Provide appropriate supporting calculations.

Average Ending Inventory = $_________; Cost of Goods Sold = $_________.

FIFO Ending Inventory = $_________; Cost of Goods Sold = $_________.

3. LIFO Ending Inventory = $_________; Cost of Goods Sold = $_________.