Inventory information for Part $311$ of Swifty Corp. discloses the following information for the month of June.

June $1$ Balance $298$ units @ $$11\_$une $10$ Sold $200$ units @ $$26$

$11$ Purchased$\mathrm{.}802$ units@$$13$ Sold $497$ units@$$27$

$20$ Purchased $497$ units@ $$14$ Sold $300$ units@ $$29$

$($a$)$

Your answer is correct.

Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under $(1)$ LIFO and $(2)$ FIFO.

$(1)$

$(2)$

LIFO

FIFO

Cost of goods sold

$$13458$

$

Ending inventory

$

$7204$

$

$8297$

eTextbook and Media

Attempts: $1$ of $3$ used

$($b$)$

Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?

The ending inventory at LIFO