Problem Stewart Co.s beginning inventory and purchases during the year ended December 31, 2023, were as follows:

Unit Unit Cost Total Cost

January 1 Inventory 1,000 $50.00 $50,000

March 10 Purchase 3,000 52.00 156,000

June 25 Sold 1,600 units

August 30 Purchase 2,600 55.00 143,000

October 5 Sold 4,000 units

November 26 Purchase 1,000 57.68 57,680

December 31 Sold 800 units

Total: 7,600 $406,680

Questions: Determine the cost of inventory on December 31, 2023, using the perpetual inventory system and each of the following inventory costing methods:

a. first-in, first-out b. last-in, first-out c. weighted average (round weighted average cost per unit to two decimal places)