Compute: Cost of Goods Sold and Ending Inventory using:

1. FIFO: COGS______________________ Ending Inventory________________________
2. LIFO: COGS______________________ Ending Inventory________________________

Tandem Supplies, an office supply store, uses a perpetual inventory system. Tandem recorded the following activity in the paper inventory account. Cost Per Unit COGS Inventory Date October 1 Activity Units Beginning Inventory 2,500 $16 October 10 Purchase 5,100 $17 October 11 Sale 5,900 October 20 Purchase 4,800 $18 October 25 Sales 5,300