Ziad Company had a beginning inventory on January 1 of 183 units of Product 4-18-15 at a cost of $20 per unit. During...

Ziad Company had a beginning inventory on January 1 of 183 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.

Determine the cost of goods available for sale.

Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.)

Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods.

Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement?