Use the following to answer the question(s) below: Shown below is the activity for one of the products of Random Creations:

January 1 balance, 100 units @ $50

Purchases: January 18: 40 units @ $51

January 25: 40 units @ $52 Sales:

January 22: 60 units

January 31: 50 units

25-1) Required: Compute the January 31 cost of ending inventory, assuming Random Creations uses FIFO and periodic inventory system. Cost of ending inventory: $____________________ Your computations: (no credit if not shown).

25-2) Required: Compute the cost of goods sold for January, assuming Random Creations uses LIFO and periodic inventory system. Cost of goods sold: $____________________ Your computations: (no credit if not shown)

25-3) Required: Compute the cost of goods sold for January, assuming Random Creations uses LIFO and perpetual inventory system. Cost of goods sold: $____________________ Your computations: (no credit if not shown)

25-4) Required: Compute the January 31 cost of ending inventory, assuming Random Creations uses average cost and periodic inventory system. Cost of ending inventory: $____________________ Your computations: (no credit if not shown)