Question: Ashley Company, using the periodic inventory system, began the year with 250 units of product B in inventory with a unit cost of $36. The

Ashley Company, using the periodic inventory system, began the year with 250 units of product B in inventory with a unit cost of $36. The following additional purchases of the product were made:
Apr. 1...........310 units @ $40 each
July 5.............370 units @ 53 each
Aug. 15..........510 units @ 62 each
Nov. 20..........120 units @ 70 each
At the end of year, Ashley Company had 540 units of its product unsold. Calculate the cost of ending inventory as well as cost of goods sold by the (a) FIFO, (b) LIFO, and (c) weighted-average methods. (Round the weighted average to the nearest cent.

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