LIFO, Perpetual and Periodic

Riedel Company's inventory records showed the following transactions for the fiscal period ended June 30:

	Units			Cost/Unit
June 1 Inventory	700			$6.20
June 3 Purchase	400			6.40
June 15 Sales @ $12.00	300
June 22 Sales @ $12.50	600
June 30 Purchase	600			6.70

Required:

1.	Compute the ending inventory and the cost of goods sold under the LIFO cost flow assumption assuming both a perpetual and a periodic inventory system. If required, round your answers to the nearest dollar.

LIFO - periodic: Ending inventory Cost of goods sold

LIFO - perpetual: Ending inventory Cost of goods sold