Mastering Inventory $16 Section 6 INVENTORY COSTING USING THE LIFO METHOD 1. ShaCo, a 20X8 startup, uses the periodic method and LIFO costing. ShaCo makes the following purchases during its first year: Purchase date Units purchased Unit cost Total cost January 15 600 $0.9.600 April 12 2,400 $17 40,800 June 7 3,000 $19 57,000 August 25 1,300 $22 28,600 September 5 5,000 $25 125,000 December 11 900 $27 24 300 Total 13,200 $285,300 The year-end physical count is 4,000 units. Compute 20x8 ending inventory and COGS