Exercise 8-10 Inventory information for Part 311 of Cheyenne Corp. discloses the following information for the month of June.

June 1 Balance 302 units @ $11

June 10 Sold 198 units @ $27

June 11 Purchased 803 units @ $13

June 15 Sold 498 units @ $28

June 20 Purchased 498 units @ $14

June 27 Sold 296 units @ $30

Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) (2) LIFO FIFO Calculate Cost of Goods Sold under lifo and fifo Calculate Ending Inventory under life and fifo

Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?

The ending inventory at LIFO $

Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO?

Gross Profit (FIFO) $