Ziad Company had a beginning inventory on January 1 of 192 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made.

Mar. 15

512 units

at

$26

Sept. 4

448 units

at

$28

July 20

320 units

at

$27

Dec. 2

128 units

at

$31

1,280 units were sold. Ziad Company uses a periodic inventory system.

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost).

Please answer like this:

FIFO LIFO AVERAGE-COST

The ending inventory $ ________________ $___________________ $___________________

The Cost of Goods Sold $_________________ $____________________ $___________________