riodic inventory by three methods; cost of goods sold

e units of an item available for sale during the year were as follows:

In$.1$ Inventory $40$ units at $$96$

ar$.10$ Purchase $70$ units at $$106$

ug$.30$ Purchase $30$ units at $$110$

ec$.12$ Purchase $60$ units at $$116$

here are $80$ units of the item in the physical inventory at December $31.$ The periodic inventory system is used.

etermine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cen nd round all other calculations and your final answers to the nearest dollar.

Cost of Ending Inventory and Cost of Goods Sold

inventory Method Ending Inventory Cost of Goods Sold

irst$-$in$,$ first$-$out $($FIFO$)$ $

ast$-$in$,$ first$-$out $($LIFO$)$

Neighted average cost