The following information is for the Blue Devil Inc during its fiscal year ended on December 31, 2020. The company uses the LIFO inventory costing method and sells just one product.

	Date	Unit	Unit Cost
Beginning Inventory	January 1	200	$10
Purchase	March 11	400	$12
Sales	July 1	500
Purchase	October 18	600	$15
Sales	December 1	350

Required:

1. Calculate the value of ending inventory and cost of goods sold for fiscal year 2020, using the Periodic inventory system Please show your calculation steps.
2. Calculate the value of ending inventory and cost of goods sold for fiscal year 2020, using the Perpetual inventory system Please show your calculation steps.