Question: I need help answering this question. Crane Co. uses a periodic inventory system. Its records show the following for the month of May, in which

I need help answering this question.

Crane Co. uses a periodic inventory system. Its records show the following for the month of May, in which 62 Units Unit Cost Total Cost May 1 Inventory 30 $5 $150 15 Purchases 22 8 176 24 Purchases 32 9 288 Totals 84 $614 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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