Exercise 6-5 Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 114 units were sold Unit Units Cost Total Cost May 1 Inventory50 15 Purchases 42 24 Purchases 59 151 $400 462 708 $1,570 $8 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 s Cost of goods sold