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Whispering Winds Corp. Inc. had a beginning inventory of 95 units of Product RST at a...

Whispering Winds Corp. Inc. had a beginning inventory of 95 units of Product RST at a cost of $7 per unit. During the year, purchases were:

Feb. 20 610 units at $8

Aug. 12 395 units at $10

May 5 480 units at $9

Dec. 8 100 units at $11

Whispering Winds Corp. uses a periodic inventory system. Sales totaled 1,535 units.

Determine the ending inventory and 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

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