The following is a record of Swifty Company's transactions for Boston Teapots for the month of May 2020. May 1 Balance 412 units @ $19.00 May 10 Sale 309 units @ $35.00 12 Purchase 618 units @ $26.00 20 Sale 556 units @ $35.00 28 Purchase 412 units @ $27.00 a $25.00 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 577 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) (2) ITFO Ending Inventory SHOW ANSWER Assuming that perpetual records are maintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (1) FIFO LIFO Ending Inventory s