Inventory information for Part 311 of Coronado Corp. discloses the following information for the month of June. June 1 Balance 301 units @ $12. June 10 Sold 197 units @ $29 June 11 Purchased 803 units @ $14. June 15 Sold 500 units @ $30 June 20 Purchased 502 units @ $16. June 27 Sold 297 units @ $32

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 (2) FIFO Cost of Goods Sold 15,998 ta 14,392 Ending Inventory $ 8,578 $ 18,929 X Your answer is incorrect