At the end of January, Mineral Labs had an inventory of 845 units, which cost $13 per unit to produce. During February the company produced 1,250 units at a cost of $17 per unit.

a. If the firm sold 1,550 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.)

Cost of goods sold =

b. If the firm sold 1,550 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.)

Cost of goods sold =