500 600 (700) 400 (500) $100 105 Beginning inventory, Jan.1 1. Purchase, Feb. 1 2. Sale, March 15 (sold at $20 each) 3. Purchase, May 15 4. Sale, July 31 (sold at $25 each) , 2014 110 Calculate COGS and Ending Inventory for 2014 using FIFO, perpetual FIFO, periodic * LIFO, perpetual LIFO, periodic