Question: Inventory Costing Methods Neyman Inc. has the following data for purchases and sales of inventory: Date Units Cost per Unit Beginning inventory Purchase 1, Feb.

 Inventory Costing Methods Neyman Inc. has the following data for purchases

Inventory Costing Methods Neyman Inc. has the following data for purchases and sales of inventory: Date Units Cost per Unit Beginning inventory Purchase 1, Feb. 24 Sale 1 $400 130 145 180 90 265 370 330 Purchase 2, July2 Purchase 3, Oct. 31 Sale 2 250 All sales were made at a sales price of $450 per unit. Assume that Neyman uses a perpetual inventory system Required: Compute the cost of goods sold and the cost of ending inventory using the FIFO, LIFO, and average cost methods. (Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.) FIFO LIFO Average Cost Cost of ending inventory Cost of goods sold

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