Nov.	1	Beginning inventory	14	units at	$160
	8	Purchase	4	units at	$170
	15	Purchase	11	units at	$180
	26	Purchase	5	units at

The physical count of inventory at

November

30,

2020,

indicates that six units remain in ending inventory, and the company owns them.

Required

Compute ending inventory and cost of goods sold using each of the following methods, assuming a periodic inventory system is used:

1. Specific-unit-cost, assuming three

$170

units and three

$180

units are on hand on

November

30,

2020

2. Weighted-average cost

3. First-in, first-out (FIFO)

First calculate the cost of goods available for sale.

	Nov.	1	Beginning inventory	14	at	$160	=
		8	Purchase	4	at	$170	=
		15	Purchase	11	at	$180	=
		26	Purchase	5	at	$200	=
		30	Goods available for sale