29. Salm Company reported the following purchases and sales for its only product. Salm uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning Inventory	190 units @ $14
5	Purchase	240 units @ $16
10	Sales		160 units @ $24
15	Purchase	120 units @ $17
24	Sales		110 units @ $25

54. One Company reported the following purchases and sales of its only product. One uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.

Date	Activities	Units Acquired at Cost	Units Sold at Retail
May 1	Beginning Inventory	260 units @ $11
5	Purchase	275 units @ $13
10	Sales		195 units @ $21
15	Purchase	155 units @ $14
24	Sales		145 units @ $22