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Tamarisk, Inc. had a beginning inventory on January 1 of 293 units of Product 4-18-15...

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Accounting

Tamarisk, Inc. had a beginning inventory on January 1 of 293 units of Product 4-18-15 at a cost of $21 per unit. During the year, the following purchases were made.

Mar. 15 780 units at $24 Sept. 4 683 units at $27
July 20 488 units at $25 Dec. 2 195 units at $30

1,950 units were sold. Tamarisk, Inc. uses a periodic inventory system.

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250.)

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