Units 4,000 4,600 1,000 Unit Cost 17.80 16.10 16.70 17.10 2,500 Transaction Beginning inventory 1/1 Purchases, January 23 Purchases, February 14 Purchases, March 17 Units Sold - April 13 at $21 Purchases, May 5 Purchases, July 4 Units Sold - October 31 at $17 Purchases, November 22 9,700 5,300 3,900 8,200 1,900 15.80 16.80 15.50 Assume a perpetual inventory system Using the FIFO inventory costing method, what is cost of goods sold for the year? Using the LIFO inventory costing method, what is the cost of ending inventory