Gladstone company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the time of each sale, as if it uses a perpetual inventory system. Assume its accounting records provided the following information at the end of the manual accounting period, December 31.

Biginning inventory January 1 1,900 $50

purchase January 30 2,600 $62

sale, march 14 ($100 each) (1,470)

purchase May 1 1,220 $80

sale august 31 ($100 each) (2,000)

calculate the cost of goods and ending inventory for glabstone company assuming it applies the LIFO cost method perpetually at the time of each sale

cost of goods sold

ending inventory