The Peterson Company uses the periodic inventory system. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted-average methods. Peterson sells only one product, called SM57.

ending inventory is 61 units.

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Units January 1 March 18 August 19 November 8 Beginning inventory52 Purchased Purchased Purchased 16 38 54 Costs per Unit $14 15 17 18