The company is dedicated to the wholesale of dry fruits.

The company uses a perpetual inventory system.

On 1st of January the inventory showed a balance of 1,000 Kg of merchandises for a total value of $2,000

On January 6 the company purchased 1,000 kg of merchandises at a price of $2,2 per Kg.

On January 17 the company sold 1,500 Kg of merchandises at a price of $4 per kilogram.

ON January 25 the company purchased 1,000 Kg of merchandises at $2,7 / Kg.

1.- Calculate the cost of the goods sold for the sale of January 18 relying on the average cost method (10 points). Calculate the inventory balance at January 31. (5 points)

2.- Calculate the cost of the goods sold for the sale of January 18 relying on the FIFO method(10 points). Calculate the inventory balance at January 31. (5 points)

3.- Calculate the cost of the goods sold for the sale of January 18 relying on the LIFO method(10 points). Calculate the inventory balance at January 31. (5 points)