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Compute the cost of ending inventory

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Reference no: EM133186354

Question - Ling Company's inventory records for the current year are as follows:

Beginning inventory

Num of units - 2,200

Cost per units - $3.00

Total Cost - $ 6,600

First purchase

Num of units - 3,000

Cost per units - $2.90

Total Cost - $8,700

Second purchase

Num. of Units - 3,500

Cost per units - $2.80

Total Cost -$9,800

Third purchase

Num. of Units - 2,800

Cost per Units - $2.70

Total Cost $7,560

Fourth purchase

Num of Units - 2,500

Cost per units -$2.60

Total Cost - $6,500

Goods available for sale 14,000

Total - $39,160

Units sold during the year 9,000

Required - Compute the cost of ending inventory using the following inventory costing methods:

1. FIFO

2. LIFO

3. Average Cost

Reference no: EM133186354

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