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The Gidewall Corporation uses part 210 in a manufacturing process. Information as to balances on hand purchases, and requisitions of part 210 is given in

The Gidewall Corporation uses part 210 in a manufacturing process. Information as to balances on hand purchases, and requisitions of part 210 is given in the following table:

Date

Quantities Received

Issued

Balance

Unit Purchase Price

January 8

--------

--------

200

$1.55

January 29

200

--------

400

$1.75

February 8

--------

80

320

------

March 20

------

160

160

------

July 10

150

-----

310

$1.75

August 18

------

110

200

------

September 6

-------

75

125

------

November 14

250

-------

375

$2.00

December 29

-----

100

275

-------

Instructions: What is the closing inentory under each of the following pricing methods? (Note: Round unit costs to three decimal places.)

1. Periodic FIFO

2. Periodic LIFO

3. Periodic average

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