Ford Co. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. May 1 15 24 Inventory Purchases Purchases Totals Ending inventory Cost of goods sold $ Units $ 35 30 40 105 Unit Cost FIFO $8 12 13 Total Cost Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. $280 $1,160 tA 360 $ 520 $ LIFO

Ford Co. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods