Farmer Dave Corp. has the following information about his corn on the cob inventory:

Purchases Sales

Sept 1 9,000 @ $22.24 Sept 2 1,500 @ $54

Sept 3 45,000 @ $21.90 Sept 21 55,300 @ $60

Sept 16 6,400 @ $20.45

Sept 24 7,400 @ $18.50

a. Assuming thatperpetualinventory records are kept, theCost of Goods SoldandEnding Inventory usingFIFO cost flow assumption is (label which is which): (7 points) b. Assuming that periodic inventory records are kept, theCost of Goods SoldandEnding InventoryusingLIFO cost flow assumption is (label which is which): (7 points)