MM Market sells many products.Below is an analysis of the inventory purchases and sales of the month of April. MM Market uses the periodic inventory system.

Ending Inventory is determined to be $1500$ unit.

Purchases

Units Unit Cost

$4/4$ Beginning inventory $1300$ $$450$

$8/4$ Purchase $700$ $$500$

$16/4$ Purchase $2400$ $$550$

$29/4$ Purchase $3000$ $$650$

Instructions

$($a$)$ Using the FIFO assumption, calculate the amount charged to cost of goods sold for April. $($Show computations$)$

$($b$)$ Using the weighted average method, calculate the amount assigned to the inventory on hand on April $30.($Show computations$)$

$($c$)$ Using the LIFO assumption, calculate the amount assigned to the inventory on hand on April $30.($Show computations$)$