The inventory records of Ezra Corporation reflect the information shown below for the month of August. The company values its inventory on a monthly periodic basis.

Date	Transaction	Number of Units	Cost per Unit
1	Beginning Inventory	400	$5.00
3	Purchase No. 1	400	$5.00
5	Sale No. 1	600
7	Sale No. 2	100
11	Purchase No. 2	1,000	$7.00
17	Sale No. 3	700
19	Purchase No. 3	1,000	$7.00
21	Sale No. 4	600
28	Sale No. 5	600
29	Purchase No. 4	1,200	$9.00

Determine the dollar amounts of ending inventory and cost of goods sold at the end of August under each of the inventory valuation methods listed. Enter your responses in the Response Template. (12 points total, 2 points each)

Method	Ending Inventory	Cost of Goods Sold
Average Cost
FIFO
LIFO