1)

At the end of January, Mineral Labs had an inventory of 885 units, which cost $11 per unit to produce. During February, the company produced 1,450 units at a cost of $15 per unit.

a.	If the firm sold 1,950 units in February, what was the cost of goods sold?(Assume LIFO inventory accounting.)

Cost of goods sold

$

b.	If the firm sold 1,950 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.)

Cost of goods sold

$