Open Space Furniture began June with a merchandise inventory of $90$ sofas that cost a total of $$63000.$ During the month, Open Space purchased and sold merchandise on account as follows:

Prepare a Periodic inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold and ending merchandise inventory.

Open Space Furniture began June with a merchandise inventory of $90$ sofas that cost a total of $$63000.$During the month, Open Space purchased and sold merchandise on account as follows:

June $7$ Purchase $50$ sofas, $$1500$ each

June $14$ Sale $60$ sofas, $2300$ each

June $18$ Purchase $100$ sofas, $$1550$ each

June $27$ Sale $70$ sofa, $$2400$ each

Prepare a Periodic inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold and ending merchandise inventory.