The following are data available for Richards Co. for the month of May:

Sales 1,120 units

Beginning Inventory 200 units @ $1.25

Purchases, in chronological order 500 units @ $1.30

400 units @ $1.40

700 units @ $1.50

Calculate cost of goods sold and ending inventory under the following cost flow assumptions:

(1) Weighted average

(2) FIFO

(3) LIFO

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