On December 1, 2022, Coronado Company had the account balances shown below. Cash Accounts Receivable Inventory Equipment *(3,000 x $0.60) Dec. 3 1. 5 2. 7 17 22 Debit The following transactions occurred during December: Adjustment data: $5,000 5,000 1,800 21,000 $32,800 14 Accumulated Depreciation-Equipment Accounts Payable Owner's Capital Credit $1,200 Recognized accrued salaries payable $400. Recognized depreciation $400 per month. 3,400 28,200 Purchased 4,200 units of inventory on account at a cost of $0.78 per unit. Sold 4,500 units of inventory on account for $0.94 per unit. (Coronado sold 3,000 of the $0.60 units and 1,500 of the $0.78.) $32,800 Granted the December 5 customer $177 credit for 200 units of inventory returned costing $118. These units were returned to inventory. Purchased 2,000 units of inventory for cash at $0.84 each. Sold 2,200 units of inventory on account for $0.99 per unit. (Coronado sold 2,200 of the $0.78 units.)

1. Compute the ending inventory and cost of goods sold under FIFO, assuming Coronado Company uses the periodic inventory system.

2. Compute the ending inventory and cost of good sold under LIFO, assuming Coronado Company uses the periodic inventory system.

On December 1, 2022, Coronado Compary had the account balances shown below. 13,000$060) The following tramactions occurred during December: Dec.3 Purchased 4,200 whits of inventery on actount at a cost of 50.73 per unit. 50783 7 Granted the December 5 cuitomer $177 credit for 200 units of inventory refurned costins 5128 . These units were returned to iprentery 17 Puchased 2.000 unes of invertery for cashat 50.84 each 22 Sald 2,200 anits of inventary on account for 90.99 per unit. (Coronado sold 2,200 of the 50.76 units) Adjustment data: 1. Recognired acorued salanes parable $400 2 Recogniteddepreciation S400 per month. Compute ending imventory and cost of goods sold under FiFO, assuming Coronado Company uses the periodic imventory sVstem. Ending inveritory Cost of Goods Sold $ eTextbook and Media List of Accounts Last sined 7 seconds ago: Attempts: 2 of 5 used Compute ending imventory and cost of gonds sold under LiFO, assuin in Coconado Compary uses the periodic imentory system. Ending Ieventory Cost of Cioodi Sold