Zambian Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold.

Instructions
Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under eachmethod.

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Units Unit Cost Total Cost S 9 $270 275 420 $965 MayInventory Purchases Purchases Totals 30 25 35 90 15 24 12