Assignment $1$: Inventory Valuation

Beginning Inventory: $100$ units @ $$1$

First Purchase: $200$ units @ $$2.$

Second Purchase: $300$ units @ $$3$

Third Purchase: $400$ units @ $$4$

Ending Inventory: $200$ units

Required: Based on the above data, compute the ending inventory and cost of goods sold, using

a$)$ FIFO

b$)$ LIFO

c$)$ Average Cost

Assignment $2$: Estimating Inventory

Inventory, $1-1-24,$ cost: $$20,000$

Inventory, $12-31-24,$ Retail: $$30,000$

Purchases, $1-1-24,$ cost: $$20,000$

Purchases, $12-31-24,$ Retail: $$35,000$

Sales: $$47,000$

Required: Based on the above data, estimate the ending inventory, using the Retail Method.