1. Question #3 Boston Tool Company uses the periodic inventory method and had the following inventory information available for their model 470 Super Finish Sander: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $3 $ 300 1/20 Purchase 500 $4 2,000 7/25 Purchase 100 $5 500 10/20 Purchase 300 $6 1,800 1,000 $4,600 A physical count of inventory on December 31 revealed that there were 380 units on hand.

Instructions Compute: Ending Inventory and Cost of Goods Sold using: FIFO, LIFO and Average Cost. Show detailed work of all your computations.