Exercise 8-13 (Part Level Submission)

Inventory information for Part 311 of Monique Aaron Corp. discloses the following information for the month of June.

June 1 Balance 304 units @ $14 June 10 Sold 198 units @ $32

11 Purchased 799 units @ $16 15 Sold 500 units @ $34

20 Purchased 501 units @ $18 27 Sold 298 units @ $36

Question part (a)

Assuming that the periodic inventory method is used, compute the cost of goods sold AND ending inventory under (1) LIFO and (2) FIFO.