ABC Co. hold 100 units of beginning inventory that it purchased at $10 per unit. On January 1 ABC purchased 120 units at $11 per unit. On March 4 ABC purchased 60 units at $11.50. On April 27th, ABC had their first sale of 100 units at $20 each. To restock inventory ABC purchased 70 units at $12 on May 8th. A second sale occurred on June 24th, of 100 units at $22. Their last purchase was on July 9th of 150 units for $14 each. Calculate COGS, and Ending Inventory under FIFO and LIFO assuming the use of: (1) perpetual inventory system, and (2) periodic inventory systems.

nventor unit. On January 1 ABC purchased 120 units at $11 per unit. On March 4 ABC purchased 60 units at $11.50. On April 27th, ABC had their first sale of 100 units at $20 each. To restock inventory ABC purchased 70 units at $12 on May 8th. A second sale occurred on June 24th, of 100 units at $22. Their last purchase was on July 9th of 150 units for $14 each. Calculate COGS, and Ending Inventory under FIFO and LIFO assuming the use of: (1) perpetual inventory system, and (2) periodic inventory systems