During June, the following changes in inventory item #27 took place:

June 1

Balance

1,400 units @ $24

14

Purchased

800= units @ $36

24

Purchased

700 units @ $30

8

Sold

400 units @ $50

10

Sold

1,000 units @ $40

29

Sold

600 units @ $44

Perpetual inventories are maintained.

Instructions

What is the cost of the ending inventory for item #27 under the following methods (Show calculations.)=

(a) FIFO.

(b) LIFO.

(c) Moving average