Item$2$

$9\mathrm{.}44$

points

Return to question Item $2$

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was $200$ units at $$43$ per unit. During the year, Cortez made two batch purchases of this chair. The first was a $295-$unit purchase at $$48$ per unit; the second was a $370-$unit purchase at $$50$ per unit. During the period, it sold $565$ chairs.

Required

Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses

FIFO.

LIFO.

Weighted average.