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Sweet Corp. had 1,840 units of part M.O. on hand May 1, 2017, costing $28 each. Purchases of part M.O. during May were as follows.

Sweet Corp. had 1,840 units of part M.O. on hand May 1, 2017, costing $28 each. Purchases of part M.O. during May were as follows.

Units

Units Cost

May 9 2,340 $29
17 3,840 31
26 1,340 32

A physical count on May 31, 2017, shows 2,340 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. inventory at May 31, 2017? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the inventory cost? (Round average cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 1,620.)

FIFO

LIFO

Average Cost

Inventory Cost $

$

$

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