Reads has a merchandising business which uses a perpetual inventory system. Following are the transactions for March 2020. Compute the cost of ending inventory and the cost of goods sold for the month LIFO inventory costing method below.

March 1 Beginning Inventory 12 units at a cost of $8/unit

March 8 Purchased 20 units at a cost of $10/unit

March 17 Sold 18 units at a retail price of $35/unit

March 25 Purchased 16 units at $11 /unit

March 31 Sold 20 units at a retail price of $40/unit

2. C. LIFO

Date	Purchases	Cost of Goods Sold	Ending Inventory