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Units Unit Price Total Cost January 1, 20-- Beginning inventory 1,090 $ 8.00 $ 8,720 March 5 1st purchase 900 9.00 8,100 April 16 2nd

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Units Unit Price Total Cost January 1, 20-- Beginning inventory 1,090 $ 8.00 $ 8,720 March 5 1st purchase 900 9.00 8,100 April 16 2nd purchase 400 9.50 3,800 June 3 3rd purchase 690 10.20 7,038 August 18 7th purchase 580 10.90 6,322 September 13 5th purchase 780 11.90 9,282 November 14 6th purchase 400 14.00 5,600 December 3 7th purchase 500 14.05 7,025 5,340 $ 55,887 There are 1,000 units of inventory on hand on December 31. Required: 1. Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December 31 under each of the following methods: Cost of Goods Cost of Ending Sold Inventory a. FIFO b. LIFO c. Weighted-average (round calculations to two decimal places) mount to be assigned to the

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