Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 180 units at $108
Mar. 10 Purchase 224 units at $110
Aug. 30 Purchase 200 units at $116
Dec. 12 Purchase 196 units at $120

There are 208 units of the item in the physical inventory at December 31. The periodic inventory system is used.

Required:
Determine the ending inventory cost and the cost of goods sold by three methods.

Jan. 1 Inventory 180 units at $108

Mar. 10 Purchase 224 units at $110

Aug. 30 Purchase 200 units at $116

Dec. 12 Purchase 196 units at $120

Explanation:

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