Question: TASK #3 Inventory methods. Niles Co. has the following data related to an item of inventory: Inventory, March 1 Purchase, March 7 Purchase, March

TASK #3 Inventory methods. Niles Co. has the following data related to

TASK #3 Inventory methods. Niles Co. has the following data related to an item of inventory: Inventory, March 1 Purchase, March 7 Purchase, March 16 400 units @ $2.10 1,400units @ $2.20 280 units @ $2.25 Inventory, March 31 520 units Instructions (Show supporting computations in good form) Prepare schedules to compute the cost of the ending inventory on March 31, 2021, under each of the following inventory methods: (a) FIFO. (b) LIFO. (c) Weighted average.

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