Inventory information for Part 311 of Metlock Corp. discloses the following information for the month of June.

June 1		Balance		297 units @ $14		June 10		Sold		204 units @ $35
11		Purchased		803 units @ $17		15		Sold		497 units @ $36
20		Purchased		505 units @ $19		27		Sold		296 units @ $39

(a)

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		$		$
Ending Inventory		$		$