(Answered) Catlet co uses a periodic inventory system its records show

Accounting

Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in which 65 units were sold.

Date	Explanation	Units	UnitCost	TotalCost
May 1	Inventory	30	$9.44	$283.20
May 15	Purchases	25	12.44	311.00
May 24	Purchases	35	13.44	470.40
	Totals	90		$1,064.60

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

	FIFO	LIFO
Ending Inventory	$	$
Cost of goods sold	$	$

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