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Sandhill Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1

Sandhill Company uses the perpetual inventory system and had the following purchases and sales during March.

Purchases

Sales

Units

Unit Cost

Units

Selling Price/Unit

3/1

Beginning inventory

108 $ 60

3/3

Purchase

68 $ 70

3/4

Sales

78 $ 120

3/10

Purchase

208 $ 75

3/16

Sales

88 $ 130

3/19

Purchase

48 $ 80

3/25

Sales

128 $ 130

Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using FIFO and LIFO.

FIFO

LIFO

Cost of goods sold

Ending inventory

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