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Inventory information for Part 311 of Sunland Corp. discloses the following information for the month of June. 1 June - Balance 303 units @ $14

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

1 June - Balance 303 units @ $14

10 June - Sold 203 units @ $33

11 June - Purchased 796 units @ $17

15 June - Sold 499 units @ $35

20 June - Purchased 503 units @ $18

27 June - Sold 303 units @ $37

LIFO

Cost of good sold $17588

Ending inventory 9240

FIFO

Cost of goods sold $16176

Ending Inventory $10652

1)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?

2) 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?

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