Inventory information for Part 311 of Chi Corp. discloses the following information for the month of June (beginning balance of the month =0):

June 1. Purchased 600 units @ $16

June 11. Purchased 800 units @ $19

June 15. Sold 300 units @ $40

June 20. Purchased 600 units @ $21

June 27. Sold 200 units @ $43

Question 1) In cost flow assumptions for inventory such as LIFO and FIFO, we have to consider the order of purchase in order to compute COGS and ending inventory balance. Given the information of Chi Corp. above, answer the following questions:

a) If Chi Corp. uses LIFO and Perpetual system, then, what is the unit cost of the inventories sold on June 15? Why?

b) If Chi Corp. uses LIFO and Periodic system, then, what is the unit cost of the inventories sold on June 15? Why?