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

June 1		Balance		299 units @ $13		June 10		Sold		198 units @ $32
11		Purchased		804 units @ $16		15		Sold		495 units @ $33
20		Purchased		500 units @ $17		27		Sold		305 units @ $36

(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		$		$

(b)

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

$

(c)

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?