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Use the following inventory related information for Questions 15-17. April 1 Beginning Inventory 100 units @ $4 April 2 Sales 50 units April 3 Purchases

Use the following inventory related information for Questions 15-17.

April 1

Beginning Inventory

100 units @ $4

April 2

Sales

50 units

April 3

Purchases

300 units @ $6

April 10

Sales

250 units

April 21

Purchases

400 units @ $8

April 28

Sales

200 units

15. Assuming a periodic inventory system is used, what is ending inventory under LIFO?

16. Assuming a periodic inventory system is used, what is cost of goods sold under FIFO?

17. Assuming a periodic inventory system is used, what is ending inventory under the Weighted-Average Cost method?

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