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The following data concerns inventory and purchases at Hinojosa Company:

Inventory, January 1	100	units at $113
Purchases:
January 6	70	units at $112
January 15	54	units at $113
January 22	44	units at $106
Inventory, January 31	100	units

1. Determine the cost of the ending inventory on January 31 under the average cost method.
2. Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method.
3. Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method.

Analyze: Which inventory valuation method resulted in the highest dollar amount for ending inventory?

Complete this question by entering your answers in the tabs below. Determine the cost of the ending inventory on January 31 under the average cost method. (Round your "average cost per unit" answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method Which inventory valuation method resulted in the highest dollar amount for ending inventory? Complete this question by entering your answers in the tabs below. Determine the cost of the ending inventory on January 31 under the last in, first out (LFF) method. Ine following data concerns inventory and purchases at Hinojosa Company: a. Determine the cost of the ending inventory on January 31 under the average cost method. b. Determine the cost of the ending inventory on January 31 under the first in, first out (FFO) method. c. Determine the cost of the ending inventory on Jenuary 31 under the last in, first out (LFO) method. Analyze: Which inventory valuation method resulted in the highest dollar amount for ending inventory? Complete this question by entering your answers in the tabs below. Which inventory valuation method resulted in the highest dollar amount for ending inventory

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