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Assume XYZ store began June 2018 with 45 units of inventory that cost $39 each. During June, the store completed these inventory transactions: Units Unit

Assume XYZ store began June 2018 with 45 units of inventory that cost $39 each. During June, the store completed these inventory transactions: Units Unit Cost/Sale Price June 2 Sale ............. 15 $80 June 7 Purchase...... 85 41 June 10 Sale ............. 35 82 June 22 Sale ............. 40 82 June 25 Purchase...... 20 43 June 30 Sale ............. 8 83 Determine the cost of goods sold and ending inventory for XYZ under the periodic inventory system assuming (i) FIFO method (ii) LIFO method

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