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Swifty Co. uses a periodic inventory system. Its records show the following for the month of...

Swifty Co. uses a periodic inventory system. Its records show the following for the month of May, in which 71 units were sold.

Units

Unit Cost

Total Cost
May 1 Inventory

33

$12

$396
15 Purchases

28

15

420
24 Purchases

32

16

512
Totals

93

$1,328


Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.

FIFO

LIFO
Ending inventory at May 31 $ $
Cost of goods sold $ $
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