Crane Company uses a periodic system reports the following for the month of June.

Units Unit Cost Total Cost

June 1 Inventory 250 $7 $1,750

12 Purchase 400 8 3,200

23 Purchase 350 9 3150

30 Inventory 150

a. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO.

FIFO LIFO

Cost of the ending inventory $ $

Cost of goods sold $ $