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

/in /by

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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