Problem (2) 20 Points

Yucca Co. uses a periodic inventory system and has the following information in regard to its inventory:

Beginning inventory Purchase on January 25 Purchase on March 15

Purchase on October 2 Goods available for sale

400 units @ $15 600 units @ $16 400 units @ $17

800 units @ $18

$

$

6,000 9,600 6,800

14,400 36,800

Required (Show detailed Calculations/T-account to get full mark):

There are 1,000 units in ending inventory. Calculate the amount of the 1Ending Inventory (in dollar value) and 2Cost of Goods Sold under each of the following methods:

(A) FIFO method (B) LIFO method (C) Weighted Average method