(Appendix) Inventory Costing Methods. The records of the Blue Mercantile Company show the following data for Item A: LO2 Balance, January 1 200 units @ $10 per unit Purchases Price Sales Units per Unit Units January12.

. 100

$11 February1.

April16.

. 200 12 200 May1.

100 July15.

November10.

. 100 14 100 December5.

. 100 17 500 400 The sales price for Item A was $15 per unit throughout the year.

Required:

(1) Compute the cost of the ending inventory under the fifo method when a periodic inventory system is used.

(2) Compute the cost of the ending inventory under the lifo method

(a) when a periodic inventory system is used and

(b) when a perpetual inventory system is used.