periodic inventory system determine ending inventory under FIFO,

Periodic inventory system determine cost of goods sold under FIFO

Periodic inventory system determine ending inventory under LIFO

Periodic inventory system determine cost of goods sold under LIFO

Inventory

May 1 100 units @ 5.00

Purchares May 5 200 units @6.00 , may 16 200 units @ 6.00, may 24 300 @ 7.00

sales may 14 150 units may 20 300 units