Required

1. According to the information given above, calculate the cost of sales and ending inventory under perpetual inventory system (5/10)

2. According to the information given above, calculate the cost of sales and ending inventory under periodic inventory systems. (5/10)

LIFO Dates Items Quantity Cost per unit 1 Jan. Beginning Inventory 10 $5.00 10 Jan. Sold 10 15 Jan. Purchased 11 $6.00 18 Jan. Purchased 10 $7.00 22 Jan. Sold 5