Ivanhoe Lighting had a beginning inventory of 13 units at a cost of $7 per unit on August 1. During the month, the following purchases and sales were made. August 5 August 11 August 23 Purchases 1. 2. 18 units at $8 28 units at $9 23 units at $10 Ending inventory Cost of goods sold eTextbook and Media Sales Ivanhoe uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO. $ August 2 August 10 August 19 August 21 8 units FIFO 13 units 43 units 13 units 50 685 LIFO 35 715 Assistance Used

Ivanhoe Lighting had a beginning inventory of 13 units at a cost of $7 per unit on August 1 . During the month, the following purchases and sales were made. Ivanhoe uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO