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Ballas Co. uses a periodic inventory system. Its records show the following for the month...

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Accounting

Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 84 units were sold.

Units

Unit Cost

Total Cost
May 1 Inventory

37

$10

$370
15 Purchases

31

13

403
24 Purchases

43

14

602
Totals

111

$1,375

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

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