Snowman Stores uses the periodic inventory system of calculating inventory. The following information is available for December of the current year when Snowman sold $500$ units of inventory:

Units Cost$/$Unit Total Cost

Inventory, December $1300250$ $$75,000$

Purchases, December $8600275165,000$

Using the LIFO method, calculate Snowman's inventory on December $31$ and its cost of goods sold for December.