During its first year of operations, Ontario made the following purchases 45 units at $108 74 units at $86 171 units at $70 Sales for the year totaled 274 units, leaving 16 units on hand at the end of the year. Ending inventory using the FIFO method is: a) $1,728 b) $1,280 c) $1,170 d) $1,120 pg. 6

The following data pertains to inventory during the past year. A physical inventory at year-end indicates that 600 units are on hand and that they came from the July 1 purchase.Date                      Description                        Number of Units                 Cost per Unit     Total CostJanuary 1              Beginning Inventory            1,000                                              $4.00        $4,000February 20          Purchase                              800                                                $4.50        $3,600April 1                   Purchase                              900                                                $4.75        $4,275July 1                    Purchase                              700                                                $5.00        $3,500October 22            Purchase                              500                                                $4.90        $2,450December 10        Purchase…

Crane Company had 100 units in beginning inventory at a total cost of $8,000. The company purchased 200 units at a total cost of $22,000. At the end of the year, Crane had 60 units in ending inventory. Crane Company uses a periodic inventory system.       Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)     FIFO   LIFO   Average-cost The cost of the ending inventory   $enter a dollar amount rounded to 0 decimal places    $enter a dollar amount rounded to 0 decimal places    $enter a dollar amount rounded to 0 decimal places  The cost of goods sold   $enter a dollar amount rounded to 0 decimal places    $enter a dollar amount rounded to 0 decimal places    $enter a dollar amount rounded to 0 decimal places

The following lots of a Commodity P were available for sale during the year. Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77 The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year. What is the year-end inventory balance using the LIFO method? a.$1,380 b.$1,375 c.$1,250 d.$1,510