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Solve Part a and b please The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost

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Solve Part a and b please

The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost Total Cost $ 4,500 2,450 $ 30 35 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 36 37 3,240 5,180 39 1,950 Required: a. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. FIFO LIFO Cost of goods sold Ending inventory b. Assume that Kuffel Co. uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. FIFO LIFO Cost of goods sold Ending inventory

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