Below is the activity (purchases and Sales) for inventory held by Random Creations for the month of January 2020:

Beginning Inventory: January 1, 2020, 80 Units @ $50 per unit Total $ 4,000

Purchases: January 18, 2020, 40 Units @ $51 per unit Total $ 2,040

January 28, 2020, 40 Units at $52 per unit Total $ 2,080

Sales: January 12, 2020, Sold 30 Units

January 22, 2020, Sold 30 Units

January 31, 2020, Sold 45 Units

Using the information above, answer the following:

1. Compute the January 31, 2020, Ending Inventory and Cost of Goods Sold assuming Random Creations uses FIFO
2. Compute the January 31, 2020, Ending Inventory and Cost of Goods Sold assuming Random Creations uses LIFO and the Perpetual System