View Policies Current Attempt in Progress Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the year (Do not round intermediate calculations. Round final answers to decimal places, eg. 2,520.) January May 1 Beginning Inventory 1 Purchases Total Available Total Sales 31 Ending Inventory 155 items @ $2= 430 items @ $5 585 items 425 items 160 $310 2,150 $2,460 December Cost assigned on an average cost basis Cost assigned on a FIFO basis $ Costs assigned on a LIFO basis $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit