Brief Exercise $5-6($Algo$)$ Allocating product cost between cost of goods sold and ending inventory: Multiple purchases. LO $5-6$

LoDo Designs sells smart phone cases that are custom designed by local artists. Its beginning inventory of cases was $184$ units at $$35$ per unit. During the year, Cortez made two batch purchases of these cases. The first was a $217-$unit purchase at $$38$ per unit; the second was a $335-$unit purchase at $$41$ per unit. During the period, it sold $599$ cases.

Required:

Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that LoDo Designs uses

a$.$ F$$IFO$.$

b$.$ LIFO.

$\backslash$table$[[,$FIFO,LIFO$],[$Cost of goods sold,,$],[$Ending inventory,,$]]$