The Following Units Are Available for Sale During the Year

question 3

Essay

The following units are available for sale during the year: $\begin{array}{lll}\text { January 1 } & \text { Beginning Inventory } & 10 \text { units at } \$ 18 \text { each } \\\text { April } 3 & \text { Purchase } & 30 \text { units at } \$ 20 \text { each } \\\text { August } 31 & \text { Purchase } & 28 \text { units at } \$ 25 \text { each } \\\text { September } 29 & \text { Purchase } & 17 \text { units at } \$ 30 \text { each } \\\text { December } 31 & \text { Ending Inventory } & 21 \text { units }\end{array}$ Determine ending inventory cost by (a) FIFO method, (b) LIFO method, and (c) average cost method.

---

Definitions:

Smithsonian Institution

A group of museums and research centers administered by the United States government, known for its extensive collections and research in various fields.

Traditional Nonprofit

An organization that operates primarily on donations, grants, and volunteer support to serve a social, charitable, cultural, or educational purpose without pursuing profits.

Johnson Amendment

A U.S. law that prohibits all 501(c)(3) non-profit organizations from endorsing or opposing political candidates.

Repealing

The action of revoking or withdrawing a law, tax, duty, or regulation.