Xiong Co. uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold Unit Cost $10 13 14 Units May 1 Inventory 15 Purchases 24 Purchases 28 39 100 Total Cost $330 364 546 $1,240 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods FIFO LIFO Ending inventory at May 31 Cost of goods sold