The following data related to inventory for the year ended December 31, 2009. A physical inventory on December 31, 2009

P6-18 The following data related to inventory for the year ended December 31, 2009. A physical inventory on December 31, 2009, indicates that 600 units are on hand and that they came from the July 1 purchase.

Date                 Description       Number of Units  Cost per Unit  Total Cost 

1-Jan              Beginning inventory 1,000              $     4           $  4,000

20-Feb        Purchase                      800                    4.50            3,600

1-Apr              Purchase                      900                    4.75           4,275

1-Jul              Purchase                      700                    5             3,500

22-Oct      Purchase                      500                    4.90           2,450

10-Dec     Purchase                      500                    5              2,500

                                                           4,400                        $   20,325

Required:

Computer the cost of goods sold for the year Ended December 31, 2009, and the ending inventory under the following cost assumptions.

a. First-in, first-out (FIFO)

b. Last-in, first-out (LIFO)

c. Average cost (weighted average)

d. Specific identification