Leary Company

During April, Leary Company sold 1000 units of Product Q. Its beginning inventory and purchases during the month are shown below. (Assume the periodic inventory system is used.)

April 1-Beginning inventory-200 units @ $1
April 5- Purchases- 200 units @ $2
April 10- Purchases- 200 units @ $3
April 15- Purchases- 200 units @ $4
April 20- Purchases- 200 units @ $5
April 25- Purchases- 200 units @ $6

Compute the cost of the ending inventory under each of three methods: (a) average-cost, (b) LIFO, and (c) FIFO. Explain how you calculated each answer.