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Statewide Construction uses a periodic inventory system. Its records show the following for the month of July, in which 75 units were sold. Date Units

Statewide Construction uses a periodic inventory system. Its records show the following for the month of July, in which 75 units were sold.

Date Units Unit Cost Total Cost
July 1 Inventory 36 $6 $216
July 15 Purchases 24 $9 $216
July 24 Purchases 37 $10 $370
Totals 97 $802

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

FIFO LIFO
Ending inventory at July 31st $ $
Cost of goods sold $ $

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