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Inventory information for Part 311 of Wildhorse Corp. discloses the following information for the month of June. June 1 Balance 301 units @ $15 June

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

June 1

Balance

301 units @ $15

June 10

Sold

203 units @ $37

11

Purchased

797 units @ $18

15

Sold

497 units @ $38

20

Purchased

497 units @ $20

27

Sold

298 units @ $41

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

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