Sheffield Co. uses a periodic inventory system. Its records show the following for the month of May, in which76units were sold.

Units Unit Cost Total Cost

May 1 Inventory 33. $12. $396

May 15 Purchases. 29. 15. 435

May 24 Purchases 36. 16. 576

Totals. 98. $1,407

Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.

FIFO. LIFO

Ending inventory at May 31. $. $

Cost of goods sold. $ $