Calculating FIFO Inventory Values. The Mann Corporation began operations in 2011. Information relating to the company's purchases of inventory and sales of products for 2011 and 2012 is presented below.

2011
January 1	Purchase	200	units	@	$40	per unit
April 1	Sold	120	units	@	$100	per unit
July 1	Purchase	100	units	@	$56	per unit
September 1	Sold	130	units	@	$100	per unit

2012
January 1	Purchase	100	units	@	$64	per unit
April 1	Sold	80	units	@	$120	per unit
July 1	Purchase	100	units	@	$72	per unit
September 1	Sold	100	units	@	$140	per unit

Calculate the FIFO cost of goods sold and ending inventory for 2011 and 2012 assuming use of (a) the periodic method and (b) the perpetual method.

a. FIFO Periodic. Round to nearest whole number.

2011
Cost of goods sold	Answer
Ending inventory	Answer

2012
Cost of goods sold	Answer
Ending inventory	Answer

b. FIFO Perpetual. Round to nearest whole number.

2011
Cost of goods sold	Answer
Ending inventory	Answer

2012
Cost of goods sold	Answer
Ending inventory	Answer