Problem 1 (45 points; expected time: 10-15 minutes)

The following information comes from CROW Inc.'s inventory records:

Purchase date	Units	Cost per unit	Sale date	Units sold
Beginning inventory	40	$12
Jan 2	150	$10	Jan 10	125
Jan 12	100	$8	Jan 15	100
Jan 20	100	$5	Jan 31	50

Required:

(15 points) Determine Ending inventory using the LIFO perpetual method.

(15 points) Determine Cost of goods sold using the FIFO periodic method.

(15 points) Determine Ending inventory using the Average periodic method.