E6-5 Xiong Co. uses a periodic inventory system. Its records show the following for the month of May, in which 65 units were sold. Units Unit Cost Total Cost May 1 Inventory 15 Purchases Purchases 30 25 35 90 $ 8 $240 275 420 24 12 Totals $935 Instructions Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method