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The following inventory details of LBC company Date Description Units Cost Purchases 10 $10 January 1,2020 Purchases 20 $15 January 10,2020 Sales 25 January 15,2020

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The following inventory details of LBC company Date Description Units Cost Purchases 10 $10 January 1,2020 Purchases 20 $15 January 10,2020 Sales 25 January 15,2020 30 $20 January 25, Purchases 2020 Sales 20 January 31,2020 By Perpetual Inventory System, calculate: Cost of Goods Sold and Cost of Ending Inventory under 1. FIFO 2. Average Cost

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