Yalestone Company uses a periodic inventory system. At the end of the annual accounting period, December 3 1 , 2005. 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, 2005, 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 March 14. 2005, sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30, 2005. Assume that the sale of August 31. 2005, was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1, 2005.

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Transactions Units Unit Cost Beginning inventory, January 1, 2005 1,800 $2.50 Transactions during 2005: a. Purchase, January 30 2.500 3.10 b. Sale, March 14 ($5 each) (1.450) c. Purchase, May 1 1,200 4.00 d. Sale, August 31 ($5 each) (1,900) e. Sales return, September 5 (related to transaction [d]) 150