Inventory information for Part 311 of Concord Corp. discloses the following information for the month of June. June 1 (a) 11 20 299 units @ $11 798 units @ $14 Purchased 502 units @ $15 Balance Purchased Cost of goods sold $ +A Ending inventory $ June 10 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO 15 27 Sold Sold Sold 197 units@ $27 503 units @ $29 305 units @ $31 $ (2) FIFO

Inventory information for Part 311 of Concord Corp, discloses the following information for the month of June. (a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO