The following data relate to inventory for the year ended December 31, 2009. A physical inventory on December 31, 2009, indicates that 600 units are on hand and that they came from the July 1 purchase.

Required
Compute the cost of goods sold for the year ended December 31, 2009, and the ending inventory under the following cost assumptions:
a. First-in, first-out (FIFO)
b. Last-in, first-out (LIFO)
c. Average cost (weighted average)
d. Specificidentification

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Date Description Number of Units Cost per Unit Total Cost January 1 February 20 April 1 July 1 October 22 December 10 Beginning inventory Purchase Purchase Purchase Purchase Purchase 1,000 800 900 700 500 500 $4.00 4.50 4.75 5.00 4.90 5.00 S 4,000 3,600 4,275 3,500 2,450 2,500 4.400 $20,325