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Sunland Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1

Sunland Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 104 $40 3/3 Purchase 64 $50 3/4 Sales 74 $80 3/10 Purchase 204 $55 3/16 Sales 84 $90 3/19 Purchase 44 50 3/25 Sales $60 124 $90 Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using FIFO and LIFO. Cost of goods sold Ending inventory FIFO LIFO

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