Crane Co. uses a periodic inventory system. Its records show the following for the month of May, in which68units were sold.

Units Unit Cost Total Cost

May 1 Inventory 31 $5 $155

15 Purchases 27 8 216

24 Purchases 32 9 288

Totals 90 $659

Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.

Ending inventory at May 31:

FIFO $_______

LIFO $_______

Cost of goods sold:

FIFO $_______

LIFO $_______