just the first part

Part 3) Thinking and Inquiry 154 1) Ruxton Company, which uses a periodic inventory system, had a beginning inventory on May 1 of 400 units of Product A at a cost of $14 per unit. During May, the following purchases and sales were made Purchases Sales May 6 375 units at $18 May 4 275 units 14 250 units at $20 8 350 units [8] 21 300 units at $22 17 400 units 28 425 units at $26 24 225 units 1,350 1.250 Calculate the May 31 ending inventory and May cost of goods sold under (a) Average Cost. (b) FIFO, and (c) LIFO. Provide appropriate supporting calculations (a) Average - Ending Inventory = $ Cost of Goods Sold $ (b) FIFO - Ending Inventory = $ Cost of Goods Sold - $ 2) Complete the requirements specified for each of the following independent situations. (12) A A major portion of Gwynn Furniture Sales was destroyed by fire. Accounting records provide the following information $200,000 Purchases $140,000 Sales Retums and Allowances 25,000 Purchases Returns and Allowances 6.000 Beginning Inventory 30,000 Freight in 19,000 Assuming a gross profit rate of 40% on net sales and that undamaged inventory is appropriately valued at $25,000, calculate the cost of the merchandise destroyed by the fire. Sales B Karros Co. uses the retail inventory method Given the following information, calculate the ending inventory at cost Cost Retail Beginning Inventory $25,000 $ 35,000 Purchases 95,000 125,000 Sales Sales Returns and Allowances 110.000 10,000 1 Up Www