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 @ $80 per unit May 1 Sold 120 units @ $200 per unit August 1 Purchase 100 units @ $112 per unit October 1 Sold 130 units @ $200 per unit 2012 February 1 Purchase 100 units @ $128 per unit May 1 Sold 80 units @ $240 per unit August 1 Purchase 100 units @ $144 per unit October 1 Sold 100 units @ $280 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 $ Ending inventory $ 23,200 4,000 2012 Cost of goods sold $ Ending inventory $ 24,460 X 6,560 b. LIFO Perpetual. Round to nearest whole number. 2011 23,200 Cost of goods sold $ Ending inventory ta 4,000 2012 Cost of goods sold $ Ending inventory $ 24,460 x 6,560