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The following is a record of Waterway Companys transactions for Boston Teapots for the month...

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Accounting

The following is a record of Waterway Companys transactions for Boston Teapots for the month of May 2017. May 1 Balance 496 units @ $21 May 10 Sale 372 units @ $37 12 Purchase 744 units @ $27 20 Sale 670 units @ $37 28 Purchase 496 units @ $30 Assuming that perpetual records are maintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (1) FIFO (2) LIFO Ending Inventory $ Entry field with incorrect answer now contains modified data $ Entry field with incorrect answer

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\table[[Beginning bork in mons,Units,\table[[\table[[Direct],[Materials]]],[Percent],[Complete]],\table[[Conversion],[Percent],[Complete]]],[\table[[Beginning work in process inventory],[Units started this period]],\table[[62,000],[332,000]],70%,30%