The following data concerns inventory and purchases at Muse Company. Inventory, January 1 92 units at $105 Purchases: January 6 62 units at $104 January 15 47 units at $104 January 22 37 units at $98 Inventory, January 31 91 units Determine the cost of the ending inventory on January 31 under the average cost method. Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method. Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method. Analyze: Which inventory valuation method resulted in the highest dollar amount for ending inventory?

Complete this question by entering your answers in the tabs below.

• Average Cost
• FIFO
• LIFO
• Analyze

Determine the cost of the ending inventory on January 31 under the average cost method. (Round your "average cost per unit" answer to 2 decimal places.)

Average Cost	Merchandise available for sale			Ending Inventory
	Number of units	Unit cost	Total cost	Number of units	Average cost per unit	Total cost
Beginning Inventory, January 1			$0
Purchases:
January 6			0
January 15			0
January 22			0
Total	0		$0			$0

• Average Cost
• FIFO