Xiong Co. uses a periodic inventory system. Its records show the following for t

Xiong Co. uses a periodic inventory system. Its records show the following for the month of May, in which 102 units were sold.

Units	Unit Cost	Total Cost
May 1	Inventory	47	$11	$517
15	Purchases	39	14	546
24	Purchases	55	15	825
Totals	141	$1,888

Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.

 

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