Periodic SystemCalculating Ending Inventory and Cost of Sales Using Average Cost, FIFO, and LIFO Leven Company uses a periodic inventory system. The following information for the rst quarter is available for the companys merchandise inventory. A physical inventory taken on March 31 of the current year showed 900 units available.

Date		Units	Unit Cost
Beg. Inventory:	Jan. 1	480	$9.00
Purchases:	Jan. 5	900	10.00
	Jan. 25	720	10.50
	Feb. 16	360	12.00
	March 26	540	13.00

a. Compute ending inventory and cost of goods sold for the quarter ended March 31 using (1) Average cost method, (2) FIFO method, (3) and the LIFO method.

• Average Cost
• FIFO
• LIFO
• Analysis

(1) Average cost method

Computation of Weighted Average Unit Cost
	Numerator		Denominator		Result
Unit cost	a??		b??	=

Note: Use the result EXACTLY as displayed above in the calculations below. Note: Do not use negative signs with any of your answers.

	Average Cost
	Cost of goods available for sale	c??
	Ending Inventory	d??
	Cost of goods sold	e??

Please answer all parts of the question.