Sekhon Company had a beginning inventory on January 1 of 178 units of Product 4-18-15 at a cost of $19 per unit. During the year, the following purchases were made.

1,110 units were sold. Sekhon Company uses a periodic inventory system.

Determine the cost of goods available for sale.

Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.)

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost).

Mar. 15

444 units

at

$25

Sept. 4

366 units

at

$27

July 20

278 units

at

$26

Dec. 2

111 units

at

$28

Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement?