Ziad Company had a beginning inventory on January 1 of 143 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.

Mar. 15

380 units

at

$23

Sept. 4

333 units

at

$26

July 20

238 units

at

$24

Dec. 2

95 units

at

$29

950 units were sold. Ziad Company uses a periodic inventory system.

a) Determine the cost of goods available for sale.

b) Calculate average cost per unit.

c) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods.

d) Which cost flow method results in the highest inventory amount for the balance sheet, and the highest cost of goods sold for the income statement?