Novak Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $162 per unit. During the year, purchases were as follows:

		Units		Unit Cost		Total Cost
Mar. 15		700		$151		$105,700
July 20		500		145		72,500
Sept. 4		450		135		60,750
Dec. 2		100		124		12,400

Novak uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand.

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Determine the cost of goods available for sale.

Cost of Goods Available for Sale

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Determine the cost of the ending inventory and the cost of the goods sold using (1) FIFO and (2) average cost. (Do not round weighted average unit cost. Round Average answers to 0 decimal places, e.g. 5,125.)

		FIFO		Average
Ending Inventory		$		$
Cost of Goods Sold		$		$