Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July.

		Units	Unit Cost
July 1	Beginning Inventory	2,000	$ 40
July 5	Sold	1,000
July 13	Purchased	6,000	44
July 17	Sold	3,000
July 25	Purchased	8,000	50
July 27	Sold	5,000

Required: Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO.