Question: 5. Compute the dollar amount to be assigned to ENDING inventory for each of the methods indicated given the following information about purchases and sales

5. Compute the dollar amount to be assigned toENDING inventoryfor each of the methods indicated given the following information about purchases and sales during the year:

January 1Beginning Inventory150 items @ $4$600

May 1Purchases450 items @ $6$2,700

Total Available for Sale600 items$3,300

Total Sales(430) items

Ending Inventory170items

Average Cost basis_________________

FIFO basis__________________

LIFO basis__________________

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