Using the following information to answer the next three questions:

Units Purchase Price

Beginning inventory 8 $8

Purchase #1 15 $9

Purchase #2 24 $11

Purchase #3 12 $13

Sales 40

Calculate the cost of goods sold expense if the company uses the average cost inventory valuation method.

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Calculate the cost of goods sold expense if the company uses the FIFO inventory valuation method.

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Calculate the ending inventory amount if the company uses the LIFO inventory costing method.

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