The records of ABC Company showed the following:

                                        Units         Unit cost      Total cost

January 1 Beginning             10,000             60           600,000

April 1 Purchase                   18,000            50           900,000

October 1 Purchase              22,000           40           880,000

The physical inventory reveals 15,000 units on hand on December 31. Compute the cost of ending inventory and cost of sales using:

1. First in, first out (FIFO) ]

2. Weighted average

3. Last in, first out (LIFO)