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

June1 Balance 297units @$17

June 11 Purchased 795units @ $21

June 20 Purchased 500units @ $23

June 10 Sold 203units @ $42

June 15 Sold 498units @ $44

June 27 Sold 303units @ $47

1)Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.

2)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?

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?