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Inventory information for Part 311 of Metlock Corp. discloses the following information for the month of June. June 1 Balance 296 units @ $13 June

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Inventory information for Part 311 of Metlock Corp. discloses the following information for the month of June. June 1 Balance 296 units @ $13 June 10 Sold 204 units @ $31 11 Purchased 801 units @ $ 15 15 Sold 495 units @ $32 20 Purchased 501 units @ $ 17 27 Sold 296 units @ $35 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 $ 9271 30067 Ending inventory

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