The units of an item available for sale during the year were as follows:
	Jan 1		Inventory	35 units at $ 160
	Feb 18		Purchase	64 units at $ 158
	July 21		Purchase	53 units at $ 175
	Nov 23		Purchase	46 units at $ 185

There are 70 units of the item in the physical inventory at December 31. The periodic inventory ststem is used. Determine the ending inventory cost by (a) the first-in, first-out method, (b) the last-in , first-out method, and (c) the average cost method.

a			Fifo
b			Lifo
c			Average

Assuming the selling price is $ 220 and using the data from above, determine the total revenue, cost of merchandise sold and gross profit under FIFO, LIFO and Average.

			FIFO	LIFO	Average
Revenue
Cost of Merchandise sold
Grosss Profit