The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016:

Date	Transaction	Number of Units		Unit Cost		Total Cost
1/1	Beginning inventory	150		$	32	$	4,800
1/24	Purchase	70			33		2,310
2/22	Sale	(100	)		-		-
3/7	Purchase	90			35		3,150
4/10	Purchase	140			38		5,320
6/11	Sale	(100	)		-		-
9/28	Purchase	50			38		1,900
12/4	Sale	(100	)		-		-

Required:

a. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO.

b. Assume that Kuffel Co. uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO.