XYZ Company's inventory records for the current year are as follows:
	Number of Units	Cost per Unit	Total Cost
Beginning inventory	1,200	$3.00	$3,600
First purchase	3,000	$2.90	8,700
Second purchase	3,500	$2.80	9,800
Third purchase	2,800	$2.70	7,560
Fourth purchase	1,500	$2.60	3,900
	Goods available for sale	12,000		$33,560
	Units sold during the year	9,000
Required: Compute the cost of goods sold and the ending inventory using the periodic inventory method for the following inventory costing methods listed in the table below.
I have set up a table so you know you can check your work, since Cost of Goods Sold + Ending Inventory should always equals Cost of Goods Available for Sale.
Solution: Each areaCOGS and EI per inventory method worth 1 pt. each Show your work!
	Cost of Goods Sold	Ending Inventory	Cost of Goods Available for Sale
FIFO			$33,560
LIFO			$33,560
Average Cost=compute average to nearest 4th decimal point and compute COGS and Ending inventory to nearest dollar			$33,560