Calculating LIFO Inventory Values. The Mann Corporation began operations in 2011. Information relating to the company's purchases of inventory and sales of products for 2011 and 2012 is presented below.

2011
February 1	Purchase	200	units	@	$40	per unit
May 1	Sold	120	units	@	$100	per unit
August 1	Purchase	100	units	@	$56	per unit
October 1	Sold	130	units	@	$100	per unit

2012
February 1	Purchase	100	units	@	$64	per unit
May 1	Sold	80	units	@	$120	per unit
August 1	Purchase	100	units	@	$72	per unit
October 1	Sold	100	units	@	$140	per unit

Calculate the LIFO cost of goods sold and ending inventory for 2011 and 2012 assuming use of (a) the periodic method and (b) the perpetual method.

a. LIFO Periodic. Round to nearest whole number.

2011
Cost of goods sold	$Answer
Ending inventory	$Answer

2012
Cost of goods sold	$Answer
Ending inventory	$Answer

b. LIFO Perpetual. Round to nearest whole number.

2011
Cost of goods sold	$Answer
Ending inventory	$Answer

2012
Cost of goods sold	$Answer
Ending inventory	$Answer