Part IV-Inventory.

Erving Company had a beginning inventory of 600 units at a $8 per unit on August 1. During the month, the following purchases and sales were made. Purchases-Aug.6 400 units at $9, Aug. 17 800 units at $8, Aug. 22- 200 units at $10 Sales- Aug. 9 400 units, Aug. 13 500 units, Aug. 19 600 units, Aug. 26 300 units. Erving uses a periodic inventory system. Determine ending inventory and cost of goods sold under (1) average cost, (2) FIFO, and (3) LIFO. 1. Average cost: Ending inventory=$....; cost of goods sold= $.... FIFO: Ending inventory=$...; cost of goods sold=$....3.LIFO: Ending inventory=$....; cost of good sold=$....