The Inventory records of Kuffel Company reflected the following Information for the year ended December $31,2022$ :

Requlred:

a$.$ Assume that Kuffel Company uses a perlodic Inventory system. Calculate cost of goods sold and ending Inventory under FIFO and

LIFO.

b$.$ Assume that Kuffel Company uses a perpetual Inventory system. Calculate cost of goods sold and ending Inventory under FIFO and

LIFO.

c$.$ LIFO results are different for parts a and $b$ as timing of the application of LIFO rules Is relevant.

Complete this question by entering your answers in the tabs below.

Req A and $B$