Crane Lighting had a beginning inventory of 22 units at a cost of $7 per unit on August 1. During the month, the following purchases and sales were made.

Purchases				Sales
August 5		27 units at $8		August 2		17 units
August 11		37 units at $9		August 10		22 units
August 23		32 units at $10		August 19		52 units
				August 21		22 units

Crane uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO.