Office eBook Show Me How Calculator Print ltem 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 une 3 Purchase June 15 Sales $12.00 June 22 Sales $12.50 600 June 30 Purchase 700 $6.20 400 300 6.40 600 6.70 mpute the ending inventory and the cost of goods sold under the LIFO cost flow assumption assuming both a perpetual and a the nearest dollar IFO periodic: Ending inventory $ Cost of goods sold 5,940 LIFO perpetual: Ending inventory Cost of goods sold 5,660 2. Under which of the following assumptions may the cost of goods sold include the costs of the m ecent purchases of the period, even though t place? Periodic Under which of the following assumptions will the cost of goods sold be cakculated when each sale is made and, therefore, include the cost of the m Check My Work