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Transactions for the month of July for Ivanhoes Bookstore were as follows: Purchases July 1 (balance) 610 @ $7.30 8 1,160 @ $7.40 22 670

Transactions for the month of July for Ivanhoes Bookstore were as follows:

Purchases

July

1

(balance)

610 @

$7.30

8

1,160 @

$7.40

22

670 @

$7.60

30

230 @

$7.75

Sales

July

3

310 @

$9.4

12

890 @

$9.65

25

830 @

$9.90

Determine the ending inventory and cost of goods sold using FIFO method. (Round answers to 2 decimal places, e.g. 52.75.)

Ending inventory

$

Cost of goods sold

$

Determine the ending inventory and cost of goods sold using LIFO method. (Round answers to 2 decimal places, e.g. 52.75.)

Ending inventory

$

Cost of goods sold

$

Determine the ending inventory and cost of goods sold using average cost method. (Round average cost per unit and final answers to 2 decimal places, e.g. 52.75.)

Ending inventory

$

Cost of goods sold

$

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