1. The following events pertains to Deccan Company that occurred during the month of August: (4 marks)

8/1 Beginning Inventory 50 units @ $8.10 each

8/2 Purchased 80 units @ $8.20 each

8/7 Purchased 40 units @ $8.50 each

8/14 Sold 130 units @ $15.00 each

8/19 Purchased 50 units @$9.00 each

8/28 Sold 40 units @ $15.00 each

Deccan Company uses a periodic LIFO system. Determine the cost of goods sold and ending inventory for the month of August