ASF ltd had the following inventory transactions during the month of January

Month Items Units @

1/1 beginning inventory 1500 2.00

First week Purchases 2500 2.10

2^nd Week Purchase 2500 2.20

3^rd week Purchase 1500 2.30

Case 1 On January 31 account of the ending inventory was completed and 8,000 units were on hand. by using the periodic inventory system calculate the cost of goods sold ending inventory and gross profit using LIFO FIFO Average method.

Case II On January 31 account of the ending inventory was completed and 3,500 units were on hand. calculate the cost of goods sold ending inventory and gross profit using LIFO.