Question 4

Riverbed Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $20 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows: Ending inventory units:

	December 31, 2019					130
	December 31, 2020, by purchase date
		Dec. 2, 2020		130
		July 20, 2020		30		160

During 2020, the following purchases and sales were made:

Purchases					Sales
Mar.	15		350 units at $24		Apr.		10		220
July	20		350 units at $26		Aug.		20		300
Sept.	4		250 units at $30		Nov.		18		170
Dec.	2		130 units at $32		Dec.		12		360

The company uses the periodic inventory method

Required:

1-Determine ending inventory under specific identification.

2-Determine ending inventory under FIFO

3-Determine ending inventory under weighted average cost

Thank you in advance