Hoyt Company's inventory records show the following data for the month of September:

Inventory, September 1, 100units at $3.00 per unit

Purchases, Septembet 8, 450 units at $3.50 per unit

Purchases, September 18, 300 units at $3.70 per unit

A physical inventory on September 30 shows 200 units on hand.

1. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system.
2. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system.