uuuuu WUND UI LILIU 17 Horan Ltd has the following inventory transactions for the year ending 30 June 2014. All inventory items are identical. Opening inventory at 1 July 2013 Purchases on 1 September 2013 Purchases on 12 February 2014 Purchases on 21 June 2014 1,000 units @ 10 3,000 units @ 12 4,000 units @ $14 2,000 units @ 15 Horan Ltd sells 8,000 units during the year, and has 2,000 units on hand at year end. The company uses the periodic system to record inventory. At year end, the net realisable value of each inventory item is 20 per unit. LO 7.4 REQUIRED Compute the cost of sales and ending inventory amounts under the following cost-flow methods: (a) first-in, first-out (FIFO) method (b) weighted-average cost method (c) last-in, first-out (LIFO) method sold to department stores, pharmacies, optical dispensers and ased com