Moath company reports the following for the month of june

units unit cost total cost

june 1 Inventory 200 $5 $1000

12 Purchase 400 $6 $2400

23 Purchase 300 $7 $2100

30 Inventory 100

(a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO and (2) LIFO

(b) Which costing method gives the highest ending invenntory? Why?

( c ) Which method results in the higher cost of goods sold? Why?