SE$2.$ Assume the following data with regard to inventory for Vegan Compawwny:

Aug. $1$ Inventory $40$ units @ $$10$ per unit $ $400$

$8$ Purchase $50$ units @ $$11$ per unit $550$

$22$ Purchase $35$ units @ $$12$ per unit $420$

Goods available for sale $125$ units $$1,370$

Aug. $15$ Sale $45$ units

$28$ Sale $25$ units

Inventory, Aug. $3155$ units

Assuming that the inventory consists of $30$ units from the August $8$ purchase and $25$

units from the purchase of August $22,$ calculate the cost of ending inventory and cost

of goods sold.

LIFO Method: Perpetual Inventory System

SE$9.$ Using the data in SE$2,$ calculate the cost of ending inventory and cost of goods

sold according to the LIFO method under the perpetual inventory system