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:

Inventory Cost Flow	Ending Inventory	Cost of Goods Sold (COGS)
First in, first out (FIFO)
Weighted Average
Last in, first out (LIFO)