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Inventory Methods under the Periodic Inventory System Robin Inc.'s inventory records show the...

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Accounting

Inventory Methods under the Periodic Inventory System
Robin Inc.'s inventory records show the following data for purchases and sales of units.
The actual ending units remaining at May 31 were purchased on the following dates:
Required
Assuming that Robin maintains a periodic inventory system with a monthly physical count, compute ending inventory on May 31 under (1) specific identification, (2) average cost, (3) FIFO, and (4) LIFO.
(1) Specific identification
-Note: Do not use negative signs with any of your answers.
(2) average cost (periodic inventory system)
-Note: Use the result EXACTLY as displayed above in the calculations below.
-Note: Do not use negative signs with any of your answers.
(3) FIFO (periodic inventory system).
-Note: Do not use negative signs with any of your answers.
(3) FIFO (periodic inventory system).
Note: Do not use negative signs with any of your answers.
(4) LIFO (periodic inventory system).
Note: Do not use negative signs with any of your answers.
I need to know why lifo and fifo's ending inventory are calculated the way they are.
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