Note: Answer questions $(18)-(20)$ based on the following information:

$7$

Beginning inv.

$0$ units

$ $0$

Purchases $($in units$)$:

$6/2$

$10$ units

@ $$100$

$=$$$1,000$

$6/8$

Goods available:

$\frac{10\text{u}\text{n}\text{i}\text{t}\text{s}}{20\text{u}\text{n}\text{i}\text{t}\text{s}}$

@$$120$

$=$

$ $1,200$

$ $2,200$

Units sold:

$15$ units

What is Cost of Goods Sold under the FIFO method of inventory?

a$)$ $$1,500$

b$)$ $$1,600$

c$)$ $$1,700$

d$)$ $$1,800$

What is Cost of Goods Sold under the LIFO method of inventory?

a$)$ $$1,500$

b$)$ $$1,600$

c$)$ $$1,700$

d$)$ $$1,800$

What is the cost of ending inventory under the average cost method of inventory?

a$)$ $$1,000$

b$)$ $$600$

c$)$ $$500$

d$)$ $$550$