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

June 1		Balance		299 units @ $16		June 10		Sold		196 units @ $38
11		Purchased		803 units @ $19		15		Sold		502 units @ $40
20		Purchased		505 units @ $21		27		Sold		297 units @ $43

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		$enter a dollar amount		$enter a dollar amount
Ending Inventory		$enter a dollar amount		$enter a dollar amount

Question Part Score

--/12

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?

The ending inventory at LIFO

$enter The ending inventory at LIFO in dollars

Question Part Score

--/3

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)

$enter the Gross Profit (FIFO) in dollars