The following data concerns inventory and purchases at Muse Company. Inventory, January 1 90 units at $103 Purchases: January 6 60 units at $102 January 15 45 units at $102 January 22 35 units at $96 Inventory, January 31 88 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?