On December 1, 2022, Matthias Company had the following account balances.

		Debit					Credit
Cash		$5,000			Accumulated DepreciationEquipment		$1,500
Accounts Receivable		4,300			Accounts Payable		3,200
Inventory		1,800	*		Common Stock		19,500
Equipment		22,000			Retained Earnings		8,900
		$33,100					$33,100

*(3,000 x $0.60) The following transactions occurred during December.

Dec. 3		Purchased 3,900 units of inventory on account at a cost of $0.75 per unit.
5		Sold 4,200 units of inventory on account for $0.90 per unit. (Matthias sold 3,000 of the $0.60 units and 1,200 of the $0.75.)
7		Granted the December 5 customer $90 credit for 100 units of inventory returned costing $72. These units were returned to inventory.
17		Purchased 2,100 units of inventory for cash at $0.80 each.
22		Sold 1,900 units of inventory on account for $0.95 per unit. (Matthias sold 1,900 of the $0.75 units.)

Adjustment data:

1.		Accrued salaries payable $440.
2.		Depreciation $220 per month.

(e)

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

Ending Inventory		$enter the ending inentory amount in dollars
Cost of Goods Sold		$enter the cost of goods sold amount in dollars

(f)

Compute ending inventory and cost of goods sold under LIFO, assuming Matthias Company uses the periodic inventory system.

Ending Inventory		$enter the ending inventory amount in dollars
Cost of Goods Sold		$enter the cost of goods sold amount in dollars