Question: please explain step by step and definions Teal Mountain Inc. uses a periodic inventory system. Its records show the following for the month of May,

please explain step by step and definions

Teal Mountain Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, eg. 125.)

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