Question $8$: Gray Company reports the following information regarding merchandise inventory for May. Assume Gray uses the periodic system and that $250$ units of merchandise were on hand on May $31.$ Show your work in the space provided to receive credit.

$$63,000$

a$.$ What is the cost of goods available for sale for May?

$8000+21,000+24,000+10,000$

$=63,000$

b$.$ What is the cost of ending inventory under FIFO?

c$.$ How much is cost of goods sold under LIFO?

d$.$ How much is cost of goods sold under Average Cost Method?