Problem 2. Given the following information, determine the cost of ending inventory at December 31:

December 2: 5 units were purchased at $7 per unit. December 9: 10 units were purchased at $9.40 per unit.

December 11: 12 units were sold at $35 per unit

December 15: 20 units were purchased at $10.15 per unit December 22: 18 units were sold at $35 per unit

Use the above information for parts a, b and c.

a> (14 points) Use the LIFO , Last In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK

b> (14 points) Use the FIFO, First In First Out, inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK

c> (14 points) Use the weighted average inventory flow and perpetual inventory method to value the ending inventory. SHOW YOUR WORK