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  3. swifty co.uses a periodic inventory system. its re

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

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Accounting

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Swifty Co.uses a periodic inventory system. Its records show the following for the month of May, in which 73 units were sold. Units Unit Cost Total Cost May 1 35 $5 $ 175 Inventory Purchases 15 23 8 184 24 Purchases 37 9 333 Totals 95 $ 692 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 $ $ Cost of goods sold $ $

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