The inventory information of a product is given below:
|
Jan. 1 |
Inventory |
12 units |
$15 |
|
Feb. 16 |
Purchase |
8 units |
16 |
|
Mar. 4 |
Purchase |
15 units |
18 |
|
Oct. 15 |
Purchase |
10 units |
20 |
After taking a physical count, we find that we have 14 units on hand. Determine the ending inventory cost by the (a) FIFO method, (b) LIFO method and (c) weighted average.