Beginning inventory was 1,000 units at a cost of $50. Three purchases were made during the year, the first in Jan of 500 units at $51 each, and the second in July of 300 units at $53 each and the third in Dec of 200 units at $56 each. Sales were 800 units calculate cost of goods sold and ending inventory under both LIFO and FIFO Methods.

units $ total

beg inv

Jan

July

Dec

COGAS

Sold (COGAS)

End Inv