The following information is available for Massey Company: 
Assume that Massey uses a periodic inventory system and that there are 700 units left at the end of the month.
Instructions
Compute the cost of ending inventory under the
(a) FIFO method.
(b) Average-cost method.
Definitions:
ROI
An evaluation tool applied to determine the profitability or efficiency of a single investment or to analyze and compare the efficacy of multiple investments.
Margin
The difference between the selling price of a product and its cost, often expressed as a percentage of the selling price.
Division
A distinct part of a larger company or organization that operates semi-independently, focusing on a specific set of products, services, or market segment.
Investment Opportunity
A potential venture or asset that presents the possibility for financial growth or returns.
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