Zambian Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold.

Units Unit Cost Total Cost May 1 Inventory 30 $9 $270 15 Purchases 25 iil DUS 24 Purchases 3D 12 420 Totals 90 $965 Instructions Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method.