Use of perpetual inventory system for merchandise inventory calculation

Baker Company had the following information for the year ending December 31:

Units Unit Cost

Beginning inventory 200$44.00

Purchase: April 6 320$42.00

Sale: May 4 410

Purchase: July 19 550$39.00

Sale: September 9 520

Purchase: October 10 460$38.00

Baker uses the perpetual inventory system and the LIFO method.

Required:

Using LIFO

(a) Compute the cost of ending inventory.

(b) Compute the cost of goods sold for the year.