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1. The following information is available for Conservative Chair Manufacturing Company. Number of units Cost per unit Market 100 $15 $10 200 $12 $14 300 $16 $13 150 $20 $15 Using the individual item approach, determine the ending inventory under the lower of cost or market approach. Assuming the company uses the aggregate method, determine the ending inventory using the lower of cost or market (conventional) approach. 1. The following information is available for Conservative Chair Manufacturing Company. Number of units Cost per unit Market 100 $15 $10 200 $12 $14 300 $16 $13 $20 $15 a) Using the individual item approach, determine the ending inventory under the lower of cost or market approach. 150 Assuming the company uses the aggregate method, determine the ending inventory using the lower of cost or market (conventional) approach. 2. Using the information below, determine the cost of ending inventory and the cost of goods sold using each of the following inventory costing methods; and note that the company uses periodic inventory system. (a) First-in-First-out (FIFO) (b) Last-in-First-out (LIFO) and (c) Weighted inventory costing methods. Beginning Inventory 130 units at $11 per unit Jan 5 Purchased merchandise 110 units at $15 per unit Jan 7 Sold 150 units at $25 per unit Jan 10 Purchased merchandise 305 units at $18 per unit Jan 14 Purchased merchandise 75 units at $20 per unit Jan 17 Sold 428 units at $30 per unit Jan 25 Purchased merchandise 129 units at $22 per unit Jan 28 Sold 143 units at $35 per unit 3.Assuming the company uses perpetual inventory method, use the information in question 2 above to determine the ending inventory and the cost of goods sold using the Last-in-first- out method

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