Tucker$$s Technology had the following goods available for sale in the last accounting period:

Beginning inventory $100$ units @ $ $5$

Purchases $($ in order from first. To last$)$ : $140$ units @ $ $7$

$200$ units @ $ $8$

$160$ units @ $ $8\mathrm{.}50$

Sales for the period were $530$ units

$$ Compute the inventory balance and the cost of goods sold at the end of the accounting period using average cost, FIFO, and LIFO.

$$ Which method shows the highest ending inventory?

$$ Which method shows the highest cost of goods sold?

$$ Explain why ending inventory and cost of goods sold differ under the three methods of inventory valuation.