The units of an item available for sale during the year were as follows: 
There are 50 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost by (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. Show your work.
Definitions:
Proportion
A statement that two ratios or fractions are equal.
Unknown Quantities
Variables in mathematical equations or problems that are yet to be determined or solved for.
Unknown Quantity
A value in mathematics or science that is not initially known but is sought through problem-solving.
Proportion
A portion, fraction, or quantity of something as it relates to the entirety.
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