Duncan Industries' Inventory of Coats (Model XL) During 2013 Is

question 10

Essay

Duncan Industries' inventory of coats (Model XL) during 2013 is given below. $$\begin{array} { | l | c | c | } \hline & \text { \# Units } & \text { Unit Cost } \\\hline \text { Beginning Inventory, January 1, 2013 } & 42 & 75 \\\hline \text { Purchases: } & & \\\hline \text { January 18 } & 20 & 78 \\\hline \text { January 31 } & 25 & 80 \\\hline \text { February 20 } & 30 & 75 \\\hline \text { March 1 } & 10 & 70 \\\hline \text { Ending Inventory, December 31, 2013 } & 4 & \\\hline\end{array}$$ What is the cost of the ending inventory and the cost of goods sold?
1. Assume Duncan Industries utilizes the FIFO method
2. Assume Duncan Industries utilizes the LIFO method
3. Assume Duncan Industries utilizes the average cost method