. The inventory records of Liz Corporation reflected the following information for the month of August:

Date	Transaction	Number of Units	Unit Cost
8/1	Beginning inventory	400	$10
8/3	Purchase No. 1	600	$10
8/5	Sale No. 1	500
817	Sale No. 2	200
8/11	Purchase No. 2	800	$12
8/17	Sale No. 3	900
8/19	Purchase No. 3	1500	$11
8/21	Sale No. 4	800
8/28	Sale No. 5	500
8/29	Purchase No. 4	900	$10
8/30	Ending inventory

 

 

 

 

Required:

 Determine the amount of the ending inventory and cost of goods sold under each of the following methods assuming the periodic inventory system.

Method			Inventory	Cost of Goods Sold
	Weighted-average	$		$
	FIFO	$		$