Inventory information for Part 311 of Kingbird Corp. discloses the following information for the month of June. June 1 Balance 301 units @ $16 June 10 Sold 198 units @ $39 11 Purchased 797 units @ $19 15 Sold 497 units @ $41 20 Purchased 498 units @ $21 27 Sold 301 units @ $44 (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. (b) Cost of goods sold $ (1) LIFO 19920 $ Ending inventory $ 10497 eTextbook and Media Your answer is correct. (2) FIFO 18,021 12,396 Attempts: 2 of 5 used 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? (c) The ending inventory at LIFO $ 11485 eTextbook and Media Attempts: 1 of 5 used Your answer is incorrect. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross profit (FIFO) $ eTextbook and Media Save for Later Last saved 3 days ago. Attempts: 2 of 5 used Submit Answer