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The following is a record of Sheridan Company's transactions for Boston Teapots for the month...

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Accounting

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The following is a record of Sheridan Company's transactions for Boston Teapots for the month of May 2020. May 1 Balance 428 units @ $19.00 May 10 Sale 321 units @ $36.00 12 Purchase 642 units @ $24.00 20 Sale 578 units $36.00 28 Purchase 428 units @ $28.00 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 599 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) FIFO (2) LIFO Ending Inventory Assuming that perpetual records are maintained and they tle into the general ledger, calculate the ending Inventory using (1) FIFO and (2) LIFO. (1) (2) FIFO LIFO Ending Inventory

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