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:
River Valleys
Geographical areas formed by the land surrounding a river, often characterized by fertile soil and significant for early human civilizations.
Hydraulic Theory
A theory that suggests the control and management of water resources played a crucial role in the development of early civilizations.
Occupation Site
A location where evidence of past human activity is found, indicating the presence of work, living, or ceremonial spaces.
Hydraulic Theory
A theory suggesting that the development of states in ancient civilizations was closely related to the control of irrigated farming over arid lands.
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