Loki Ltd uses the periodic inventory method and had the following inventory information available:

Date	Detail	Units	Unit Cost
1/2/2022	Inventory	2,000	64
5/2/2022	Purchase	3,300	62
14/2/2022	Purchase	2,500	68
19/2/2022	Purchase	4,500	66

A physical count of inventory on 28 February 2022 revealed that there were 5,600 units on hand. Ignore GST.

Required:

Answer the following independent questions.

1. Assume that the company uses the FIFO method. The value of the ending inventory at 28 February 2022 is $__________. ( 1 Mark)

2. Assume that the company uses the average cost method. The value of the ending inventory on 28 February 2022 is $__________. ( 1 Mark)

3. Assume that the company uses the LIFO method. The value of the ending inventory on 28 February 2022 is $__________. ( 1 Mark)

4. Assume that the company uses the LIFO method. The value of the cost of sales on 28 February 2022 is $__________. ( 2 Marks )

Type your response directly into the text box below.)