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Periodic inventory by three methods; cost of goods sold The units of an...

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Accounting

Periodic inventory by three methods; cost of goods sold
The units of an item available for sale during the year were as follows:
Date Line Item Description Units and Cost
Jan. 1 Inventory 50 units at $106
Mar. 10 Purchase 50 units at $118
Aug. 30 Purchase 30 units at $122
Dec. 12 Purchase 70 units at $124
There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used.
Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.
Cost of Ending Inventory and Cost of Goods Sold
Inventory Method Ending Inventory Cost of Goods Sold
First-in, first-out (FIFO)________________________
Last-in, first-out (LIFO)_____________________________
Weighted average cost _______________________________

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