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H FIFO METHOD Units Rate Amount Opening 300 16 4800 Sale -200 16 -3200 Balance 100 16 1600 - Purchase 150 17 2550 Purchase 100 18 1800 Sale -100 16 - 1600 -50 17 -850 Balance 100 17 1700 1 100 18 1800 2 3500 3 Cost of goods sold= 3200+1600+850=5650 4 Ending imventory= 3500 5 LIFO METHOD Units Rate Amount Opening 300 16 4800 Sale -200 16 -3200 Balance 100 16 1600 Purchase 150 17 2550 Purchase 100 18 1800 Sale -100 18 - 1800 -50 17 -850 Balance 100 17 1700 100 16 1600 3300 Cost of goods sold=3200+1800+850= $5850 Ending inventory= $3300 MI AVERAGE COST METHOD Units Rate Amount Opening 300 16 4800 Sale -200 16 -3200 Balance 100 16 1600 Purchase 150 17 2550 Balance 250 16.6 4150 Purchase 100 18 1800 Balance 350 17 5950 Sale -150 17 -2550 Balance 200 17 3400 Cost of goods sold= 3200+2550= $5750 Ending inventory= $3400
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