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The following is a record of Waterway Company's transactions for Boston Teapots for the month of May 2020. LI May 1 Balance 476 units @

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The following is a record of Waterway Company's transactions for Boston Teapots for the month of May 2020. LI May 1 Balance 476 units @ $20.00 May 10 Sale 357 units @ $37.00 12 Purchase 794 units @ $27.00 20 Sale 643 units @ $37.00 28 Purchase 476 units @ $31.00 2) Assuming the company uses a perpetual system, what is the ending inventory and COGS for the month using (a) FIFO and (b) LIFO? mays 476x150

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