Sheridan Company uses a periodic system reports the following for the month of June.

---> Which costing method gives the higher ending inventory? and Which method results in the higher cost of goods sold?

---Which costing method gives the higher ending inventory? and Which method results in the higher cost of goods sold?

Sheridan Company uses a periodic system reports the following for the month of June. Unit Cost Units June 1 $7 Inventory Purchase Purchase Inventory 200 430 340 120 Total Cost $ 1,400 3,440 3,060 23 30 (a) ZYour answer has been saved and sent for grading. See Gradebook for score details. FIFO Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. LIFO Cost of the ending inventory s 1080 840 Cost of goods sold 6820 $ 7060