Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 200 units that cost $65 each. During the month, the company made two purchases: 300 units at $68 each and 150 units at $70 each. Chess Top also sold 500 units during the month.

1- Using the LIFO method, what is the amount of cost of goods sold for the month? Answer 1

2- Using the LIFO method, what is the value of ending inventory at the end of the month? Answer 2