Allsigns Company uses a periodic inventory system. At the end of the annual accounting period. December 3 1 , 2007. the accounting records for the most popular item in inventory showed the following:

Required:
Compute the amount of

(a) goods available for sale,

(b) ending inventory, and

(c) cost of goods sold at December 31, 2007, under each of the following inventory costing methods (show computations and round to the nearest dollar): 1. Weighted average cost. 2. First-in, first-out. 3. Last-in, first-out. 4. Specific identification, assuming that the April 1, 2007, sale was selected one-fifth from the beginning inventory and four-fifths from the purchase of February 20, 2007. Assume that the sale of August 1. 2007. was selected from the purchase of June 30. 2007.

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Transactions Inits Unit Cost Beginning inventory, January 1, 2007 400 $30 Transactions during 2007: a. Purchase. February 20 600 32 b. Sale, April 1 ($46 each) c. Purchase, June 30 d. Sale, August 1 ($46 each) (700) 500 36 (100) e. Sales return, August 5 (related to transaction d) 20