Inventory information for Part 311 of Concord Corp. discloses the following information for the month of June. June 1 Balance 299 units @ $11 June 10 Sold 197 units @ $27 11 Purchased 798 units @ $14 15 Sold 503 units @ $29 20 Purchased 502 units @ $15 27 Sold 305 units @ $31 (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. Cost of goods sold Ending inventory +A +A (1) LIFO 14,572 7,419 +A +A (2) FIFO 13,173 8,818