AB Corporation has provided the following information about one of its inventory items:

Date

Transaction

Number of Units

Cost per Unit

1/1

Beginning Inventory

580

$2,250

6/6

Purchase

870

$4,050

9/10

Purchase

1,290

$5,350

11/15

Purchase

930

$5,550

1) If During the year, RJ sold 2,920 units.

What was ending inventory using the average cost flow assumption under a periodic inventory system?

2) If During the year, RJ sold 3,300 units.

What was ending inventory using the LIFO cost flow assumption under a periodic inventory system?