1. Sales during the year were 500 units. Beginning inventory was 250 units at a cost of $5 per unit. Purchase 1 was 400 units at $6 per unit. Purchase 2 was 200 units at $7 per unit.Cost of goods sold under the LIFO cost flow assumption (using a periodic inventory system) was:

A$1,850.

B$3,200.

C$3,800.

D$2,750.

2.Sales during the year were 500 units. Beginning inventory was 250 units at a cost of $5 per unit. Purchase 1 was 400 units at $6 per unit. Purchase 2 was 200 units at $7 per unit.Ending inventory under the FIFO cost flow assumption (using a periodic inventory system) was:

a$2,750.

b$2,300.

c$3,650.

d$1,850.