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Given the Following Information About Purchases and Sales During the Year,compute

Question 65

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Given the following information about purchases and sales during the year,compute the cost to be assigned to ending inventory under each of three methods: (a)average-cost,(b)FIFO,and (c)LIFO.(Show your work.)
Assume that a periodic inventory system is used.
Given the following information about purchases and sales during the year,compute the cost to be assigned to ending inventory under each of three methods: (a)average-cost,(b)FIFO,and (c)LIFO.(Show your work.) Assume that a periodic inventory system is used.

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a.Average-cost: $2,362.50 [($4...

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