1. A company's inventory records indicate the following data for the month of April:

April 1	beginning	350 units at $18 each
April 5	purchase	290 units at $20 each
April 9	sale	500 units at $55 each
April 14	purchase	250 units at $22 each
April 20	sale	200 units at $55 each
April 30	purchase	240 units at $25 each

If the company uses the last-in, first-out (LIFO) method and the perpetual inventory system, what would be the cost of the ending inventory reported on the Balance Sheet and the Cost of Goods Sold reported on the Income Statement? (10 points)

Date	Inventory	CGS

MI ____________________

CGS___________________