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[Problem 1] Matlock Corporation sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the first six months of 2020. Quantities Date Unit Price Purchased Sold Balance January 11 $5.00 300 January 24 $5.40 900 1,200 February 8 500 700 June 11 $5.70 400 1,100 Instructions (a) Compute the ending inventory and cost of goods sold at June 30 under the perpetual LIFO inventory pricing method. Use the following template. Date Sold Beginning or Purchased Quantity * Cost Price 300 x $5.00 $1,500 Quantity Price Cost Balance Quantity Cost Price January 11 January 24 February 8 June 11 (b) Compute the ending inventory and cost of goods sold for the first six months under the periodic FIFO inventory pricing method