The following data are related to ABC Manufacturing Company:

1. January 1^st: The beginning inventory of ABC is 5000 units at price $1 per unit.
2. February 5^th: The company purchased 6000units at price $1.20 per unit.
3. April 10^th: The company sold 5500 units at price $1.10 per unit.

Required:

Using the three methods FIFO, LIFO, and Weighted Average Cost calculate cost of sales and closing inventory cost as well as the total cost for each method

Your answer for question (1)

Methods	Sales	Cost of Gods Sold (COGS)	Closing Inventory	Gross Profit (Loss)
FIFO:
LIFO:
Weighted Average: